PE HubA Community for Professionals in Private Capital2018-03-19T14:34:14Zhttps://www.pehub.com/feed/atom/WordPresshttps://www.pehub.com/wp-content/uploads/2016/09/cropped-PEHN-logo-32x32.jpgIris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022742018-03-19T14:34:14Z2018-03-19T14:34:14ZBlackstone Insurance Solutions has named Michael McRaith as a managing director. McRaith is a former director of the U.S. Department of the Treasury's Federal Insurance Office under the Obama administration.]]>Blackstone Insurance Solutions has named Michael McRaith as a managing director. McRaith is a former director of the U.S. Department of the Treasury’s Federal Insurance Office under the Obama administration.

PRESS RELEASE

New York, March 19, 2018 – Blackstone (NYSE:BX) today announced that Michael McRaith, former Director of the U.S. Department of the Treasury’s Federal Insurance Office (FIO), will join the firm as a Managing Director for Blackstone Insurance Solutions (BIS). BIS is a newly formed business delivering Blackstone’s investment management expertise and innovative products to insurers, helping those firms meet long-term policyholder obligations and drive shareholder value. BIS partners with insurers to create customized and diversified portfolios across asset classes, and also offers full management of insurers’ investment portfolios.

Today’s appointment follows Blackstone’s hiring in January of Chris Blunt, former President of New York Life’s Investments Group, as a Senior Managing Director and Chief Executive Officer of BIS. McRaith will serve on the BIS senior management team, reporting to Mr. Blunt. BIS expects to make several additional key hires in the coming weeks and months as BIS continues to grow.

Chris Blunt, CEO of Blackstone Insurance Solutions, said: “Michael McRaith is widely respected in the insurance world and his leadership experience at the state, federal, and international levels make him a great addition to our team. We look forward to working with Mike as we continue to ensure Blackstone Insurance Solutions is dedicated to the highest standards of policyholder protection and responsible investment management.”

Michael McRaith said: “I am excited to join Blackstone as it builds BIS to help insurers meet the essential promises those firms have made to personal and commercial consumers. Blackstone has long been recognized as a global investment leader, and BIS offers insurers around the world access to tailored investment products aligned with the best interests of policyholders.”

From 2011-2017, Mr. McRaith served in the Obama Administration’s Treasury Department as the United States’ first-ever FIO Director, the first U.S. federal office focused on national and global insurance matters. McRaith advised the Treasury Secretary on domestic and international insurance issues, led the effort that built FIO into a national and globally recognized insurance authority, and successfully collaborated with the U.S. and global insurance communities.

Among other achievements, McRaith led the U.S. effort that resulted in the EU – U.S. Covered Agreement, which governs the supervisory treatment of transatlantic insurers and reinsurers. Prior to his appointment as FIO Director in 2011, McRaith served more than six years as Director of the Illinois Department of Insurance, and was an officer of the National Association of Insurance Commissioners. Before joining the Illinois Department of Insurance, he spent 15 years as a trial and litigation attorney in private practice. He received his BA from Indiana University and his JD from Loyola University of Chicago’s School of Law.

Blackstone’s leading platforms across a wide array of asset classes – including credit, private equity, real estate, hedge funds, and infrastructure – enable BIS to create bespoke investment products that help insurers manage long-term liabilities and meet policyholder commitments. Affiliates of Blackstone manage capital for many insurance companies including Fidelity & Guaranty Life, where Blackstone Insurance Solutions oversees all $22 billion of its assets under management. In addition, Blackstone established Harrington Reinsurance, a property & casualty reinsurance company, in July 2016 and currently manages all general account assets.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $430 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022752018-03-19T14:30:54Z2018-03-19T14:30:54ZYFM Equity Partners has made an investment to support the management buyout of UK-based Checkmate Fire Solutions Limited, a passive fire protection company. No financial terms were disclosed. Alison Palmer of Eaton Smith and Martin Holden of Saffery Champness advised Checkmate Fire.]]>YFM Equity Partners has made an investment to support the management buyout of UK-based Checkmate Fire Solutions Limited, a passive fire protection company. No financial terms were disclosed. Alison Palmer of Eaton Smith and Martin Holden of Saffery Champness advised Checkmate Fire.

Checkmate Fire is one of a small number of fully 3rd party accredited contractors in this fast-growing market and provides a nationwide service from its three UK regional offices. The Company is a founding member of the Building Research Establishment (BRE) and the Loss Prevention Certification Board (LPCB) Passive Fire Installer Scheme.
Checkmate Fire has in recent years delivered significant revenue and profit growth, and the management team led by CEO, Mark Williams and his board colleagues Dave Woffendin and Tomasz Wisniewski, supported by FD Alan Wilson and Chairman Simon Moate, are now looking to invest further in sales and operations to accelerate growth across all areas of the business.

Checkmate Fire’s clients include the UK’s leading facilities management and construction companies, specifiers, building owners, facilities managers and landlords across a variety of sectors, including healthcare, social housing, hospitality, prisons and commercial property.

Ian Waterfield, Investment Director at YFM said: “Checkmate Fire has a strong reputation in this industry and has delivered consistent growth over the last few years. Its focus on building safety and compliance provides a positive backdrop for the Company to further develop its customer base and expand its geographic reach in the UK.
“This is the fifth investment from YFM’s latest fund, which closed in April 2017 with the aim of investing in well-established UK businesses and supporting management teams in delivering their ambitious growth plans.”

Mark Williams, CEO at Checkmate Fire said: “Checkmate is seeing unprecedented levels of demand for its services. We are delighted with both YFM’s investment and the expertise the team will provide. We are looking forward to working closely with YFM to enable us to deliver our growth plans and reach the Company’s true potential.”

Checkmate Fire was advised by Alison Palmer of Eaton Smith and Martin Holden of Saffery Champness. Legal advice to YFM was provided by Dahren Naidoo of Freeths LLP, financial due diligence was carried out by Jeff Gardner of DSW Transaction Services and Russ Cahill of Tax Advisory Partnership, commercial due diligence by CIL, and organisational due diligence by Anna Cornwallis of Stratton HR. Santander Growth Capital team, led by Ash Chopra and Dan Houman, provided debt finance and were advised by Georgina Tripp of Gunnercooke. The exiting shareholder was advised by Gary Black of Freeman Fisher.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022722018-03-19T14:25:03Z2018-03-19T14:25:03ZAngelo Gordon's middle-market direct lending arm Twin Brook Capital Partners has provided $57 million in financing that supported Southfield Capital's recapitalization of Tier One Relocation, according to a source familiar with the transaction. Based in Weirton, West Virginia, Tier One Relocation is a door-to-door household moving services for the military.]]>Angelo Gordon‘s middle-market direct lending arm Twin Brook Capital Partners has provided $57 million in financing that supported Southfield Capital‘s recapitalization of Tier One Relocation, according to a source familiar with the transaction. Based in Weirton, West Virginia, Tier One Relocation is a door-to-door household moving services for the military.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35022702018-03-19T14:22:37Z2018-03-19T14:22:37ZAlibaba Group Holding Ltd (BABA.N) said it will invest an extra $2 billion in Southeast Asian e-commerce firm Lazada Group and tapped a top executive to run the business, as it takes on rivals such as tech titan Amazon in an aggressive expansion in the region, Reuters reported. ]]>Alibaba Group Holding Ltd (BABA.N) said it will invest an extra $2 billion in Southeast Asian e-commerce firm Lazada Group and tapped a top executive to run the business, as it takes on rivals such as tech titan Amazon in an aggressive expansion in the region.

One of the 18 founders of Alibaba, veteran executive Lucy Peng will take over as Lazada’s chief executive, replacing founder Max Bittner who will become a senior adviser to Alibaba.

Alibaba’s stake will increase to an undisclosed size following the latest investment, a spokeswoman told Reuters. It held an 83 percent stake prior to the investment, which now doubles to $4 billion from a $2 billion infusion over the past two years.

“The investment underscores Alibaba’s confidence in the future success of Lazada’s business and the growth prospect of the Southeast Asian market, a region that is a key part of Alibaba’s global growth strategy,” Alibaba said in a statement.
Backed by large cash piles and soaring stock prices, Alibaba’s new funding in loss-making Lazada underlines an ambitious global push to secure a bigger share of the fast-growing multi-billion dollar e-commerce market.

It follows a year of brisk expansion in Southeast Asia by the Chinese e-commerce giant and its payment affiliate Ant Financial, as it faces off against the world’s biggest online retailer Amazon.com Inc (AMZN.O) and fellow Chinese retailer JD.com Inc (JD.O) to tap new consumers in the region.

“With a young population, high mobile penetration and just three percent of the region’s retail sales currently conducted online, we feel very confident to double down on Southeast Asia,” said Peng, who is also the executive chair at Ant Financial.

ONLINE BATTLEGROUND
Alibaba operates in more than 200 countries and has more than 500 million people using its shopping apps every month, allowing Lazada to tap more of the e-commerce giant’s resources.

Rival firms are already plowing billions of dollars building extensive logistics infrastructure in the region.

Last year Amazon launched its two-hour delivery in Singapore, while China’s JD.com has built its own logistics network in Indonesia, and in January announced an investment in Vietnamese online retailer Tiki.vn.

“It’s a sign of how seriously Alibaba perceive the growth opportunity, and competitive threats, in Southeast Asia,” said James Lloyd, Asia-Pacific fintech leader at EY.

Indeed, with 640 million consumers, a growing middle class and deepening smartphone penetration, Southeast Asia is shaping up as a major battleground for technology giants. Consultancy Frost & Sullivan forecast total gross merchandise value of e-commerce in the region to rise to $65.5 billion in 2021 from $20.5 billion last year.

“If India was the first key battleground between U.S. and Chinese vertical-leaders, then Southeast Asia is surely the second,” said Lloyd.

Alibaba, which has posted double-digit revenue growth every year since 2013, has started offering curated selections of goods from its own Taobao platform to Lazada users. Last April Ant Financial acquired Lazada payment affiliate helloPay Group, re-branding it under its own Alipay brand.

In addition, its cloud business has invested heavily in building data center infrastructure in the region, facilitating the spread of its digital commerce and payments services.

Ant Financial, where Peng was previously chief executive, has also purchased stakes in a handful of other Southeast Asian Payment ventures.

Singapore state investor Temasek Holdings [TEM.UL] and Lazada management are the only other stakeholders in Lazada.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022682018-03-19T14:20:29Z2018-03-19T14:20:29ZRunnymede Investments has acquired Smuttynose Brewing Company from The Provident Bank. No financial terms were disclosed. Based in Hampton, New Hampshire, Smuttynose is a craft brewery.]]>Runnymede Investments has acquired Smuttynose Brewing Company from The Provident Bank. No financial terms were disclosed. Based in Hampton, New Hampshire, Smuttynose is a craft brewery.

PRESS RELEASE

NORTH HAMPTON, NEW HAMPSHIRE (PRWEB) MARCH 17, 2018

The Provident Bank, which purchased Smuttynose Brewing Company at a foreclosure auction on March 9, has sold the company to North Hampton-based Runnymede Investments for an undisclosed amount. Says The Provident Bank President Chuck Withee, “The Provident Bank is confident that Runnymede Investments is the right buyer for Smuttynose Brewing Company. Runnymede has the resources to reinvigorate this popular brand. Runnymede is working with a professional brewery executive, Rich Lindsay, who will collaborate with the current team at Smuttynose.”

Chris Broom Jr. of Runnymede Investments expressed enthusiasm for having the opportunity to invest in New Hampshire’s largest craft brewery. “Peter Egelston and Joanne Francis have assembled a great team and an impressive production facility. We’re taking a long view and plan on making immediate investments to strengthen the brand and return to growth. We’re also pleased to be adding Richard Lindsay as Chief Executive Officer to the team. Rich is a seasoned industry veteran having held executive roles with Samuel Adams, Tuthilltown Spirits, Night Shift Brewing as well as consulting roles with numerous startups in the alcoholic beverage industry.”

“I’m very happy to be leading this team and building upon the Smuttynose brand’s legacy,” commented Mr. Lindsay. “Our immediate priorities are focused on growth. We’re making plans to add personnel to our sales team and provide them with resources to make them effective in this competitive market. We also plan to make an investment in a canning line that will allow us to participate in a growing segment of the craft beer market.”

Egelston and Lindsay will be working closely to ensure a smooth transition and to shape the next generation of sales and marketing for the brewery.

Founded in 1994, Smuttynose Brewing Company, employs 66 people and generates more than 10 million dollars in annual revenue. It is the Granite State’s leading craft brewery and produces some of New England’s most popular craft beers. The sale includes the Smuttynose brand, its state-of-the-art, LEED – Gold certified facility on the historic Towle Farm in Hampton, and Hayseed Restaurant located next to the brewery on the picturesque 13-acre campus. The brewery is among the largest in New England, capable of producing 75,000 barrels a year.

Peter Egelston, President and founder of Smuttynose shared the news with the brewery’s staff. “All of us here are Smuttynose are eager to turn the page and start our next chapter. We are pleased to know that we’ll be working with investors from within our own community, people who are familiar with our brand and appreciate what we’ve built here.”
Egelston’s partner, Joanne Francis, is relieved that the future is no longer in limbo, saying, “A company like Smuttynose doesn’t just pop up overnight. Our culture and reputation for quality are the result of decades of work, devotion and creativity. We’ve built a strong foundation with a lot of untapped potential, but circumstances over the last couple of years have held us back. With a strong partner who understands that potential, there’s no limit to what we can now accomplish. We can’t wait to roll up our sleeves and get started!”

There has been no disruption in the transition. The brewery and Hayseed Restaurant continue to operate, as well as all planned events on site. They welcome visitors and patrons.

Runnymede Investments is a family owned and operated investment firm headquartered five miles from the Smuttynose Brewery in North Hampton. Runnymede specializes in real estate, private equity, and venture capital.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022652018-03-19T14:17:44Z2018-03-19T14:17:44ZHamilton Zanze and Cantor Fitzgerald LP have acquired Las Vegas-based Arrow Canyon, a 426-unit apartment community. The price of the transaction was $60 million. The property has been rebranded as Norterra Canyon Apartments.
]]>Hamilton Zanze and Cantor Fitzgerald LP have acquired Las Vegas-based Arrow Canyon, a 426-unit apartment community. The price of the transaction was $60 million. The property has been rebranded as Norterra Canyon Apartments.

PRESS RELEASE

LAS VEGAS (PRWEB) MARCH 19, 2018

Hamilton Zanze (HZ), in a joint venture with Cantor Fitzgerald L.P., (“Cantor Fitzgerald”), has acquired the 426-unit Arrow Canyon apartment community in Las Vegas, Nevada. Located north of the city, the $60 million purchase marks HZ’s 11th investment in the Las Vegas metro area.

“This Las Vegas property fits our platform perfectly, as we are looking to acquire large assets at stabilized cap rates above 5% in markets throughout the United States. We are excited to continue investing strategically in the year ahead,” says David Nelson, Managing Director of Acquisitions for HZ.

The property has been rebranded Norterra Canyon Apartments and also transitioned to new management under Mission Rock Residential, an HZ property management affiliate.

The acquisition was financed with a $30 million, ten-year, fixed rate loan from Cantor Commercial Real Estate in collaboration with Berkeley Point Capital. In addition to the Cantor Fitzgerald equity investment, affiliates of Cantor brokered and financed the acquisition, while affiliates of Hamilton Zanze co-invested in the equity.

“This transaction represents the first joint acquisition for HZ and Cantor Fitzgerald, in realization of the breadth of our combined real estate capabilities,” said Ken Carpenter, Managing Director, Cantor Fitzgerald. Carpenter continued, “We continue to look for high quality, multifamily properties in growing markets and seek to acquire $1B of property in 2018.”

The property was built in 2007 on nearly 17 acres and comprises 458,294 net rentable square feet in 20 three-story buildings featuring one-, two-, and three-bedroom units. Community amenities include a complete fitness center, community playground, bocce ball court, covered parking, three-hole putting green, and a resort-style swimming pool and spa with poolside cabanas. Nellis Air Force Base is located less than five miles east of the property and is home to more Air Force squadrons than any other base nationwide. Additionally, I-15 and I-215 onramps are less than three miles from the property, providing easy access to fine dining, shopping, several schools, and entertainment venues.

HZ and Cantor Fitzgerald have an estimated $1.4 million ($3,286/unit) of capital improvements planned, including pool area enhancements, clubhouse renovation, and upgrades for select unit interiors.

Job growth in Las Vegas over the past several quarters has supported multifamily demand, rising rents, and low vacancy, and Las Vegas appears to have entered a period of steady growth. Northern Las Vegas in particular has experienced considerable industrial expansion, driven largely by e-commerce, with projects like Amazon’s new 800,000-square-foot warehouse in North Las Vegas dramatically adding to the area’s industrial footprint.

To learn more about the new Norterra Canyon Apartments please visit http://www.norterraarrowcanyonapts.com.

ABOUT HAMILTON ZANZE Hamilton Zanze (HZ) is a private, San Francisco-based real estate investment company that owns and operates apartment communities. Since its founding in 2001, Hamilton Zanze has acquired over $3.2 billion in multifamily assets primarily in the Western, Southwestern, and Eastern U.S. The company currently owns and operates 86 properties (19,391 units) across 11 states. For additional information, visit http://www.hamiltonzanze.com.

ABOUT CANTOR FITZGERALD Cantor Fitzgerald, a leading global financial services group at the forefront of financial and technological innovation has been a proven and resilient leader for over 65 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 7,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, prime brokerage, and commercial real estate finance and for its global distribution platform. For more information, please visit: http://www.cantor.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022642018-03-19T14:15:15Z2018-03-19T14:15:15ZThe Cynosure Group, a private equity firm, has appointed David Hunter as a managing director and head of investor relations. Previously, Hunter worked at Partners Group.]]>Salt Lake City-based The Cynosure Group, a private equity firm, has appointed David Hunter as a managing director and head of investor relations. Previously, Hunter worked at Partners Group.

PRESS RELEASE

SALT LAKE CITY (PRWEB) MARCH 17, 2018

The Cynosure Group is pleased to announce that David Hunter has joined the firm as a Managing Director and Head of Investor Relations.

Prior to joining Cynosure, Mr. Hunter spent 11 years with Partners Group in the New York, San Francisco, and Denver offices as a member of the Investment Solutions team, most recently as a Senior Vice President.

While at Partners Group, Mr. Hunter was responsible for managing the Western Region U.S. institutional sales efforts, where he set the strategy for managing existing client relationships and sourcing new investments. Mr. Hunter was responsible for building the U.S. Consulting Relations team.

Before joining Partners Group, Mr. Hunter was a consultant with Connecticut-based Evaluation Associates where he advised institutional clientele on investment policy development, asset allocation, manager search and selection, and performance and attribution analysis. Prior to that, Mr. Hunter was an investment advisor at Bear Stearns, where he advised high-net-worth families and small institutions.

Mr. Hunter received his MBA from Brigham Young University’s Marriot School of Management and his BA in Finance from Brigham Young University, where he also played on the baseball team.

About The Cynosure Group
The Cynosure Group is a Salt Lake City based company offering long-term equity investments in private companies across a range of industries. The company offers a direct investment platform to source, evaluate, and manage direct private equity investments. Cynosure has expertise in financial services, industrials, healthcare, natural resources, consumer/retail and technology and provides comprehensive wealth management services to high net worth families, foundations and other organizations in the intermountain west.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022622018-03-19T14:13:13Z2018-03-19T14:13:13ZFarmstead, an artificial intelligence-powered digital micro-grocer that delivers local food, has secured $2 million in funding. Resolute Ventures and Social Capital led the round with participation from SV Angel and Y Combinator.]]>San Mateo, California-based Farmstead, an artificial intelligence-powered digital micro-grocer that delivers local food, has secured $2 million in funding. Resolute Ventures and Social Capital led the round with participation from SV Angel and Y Combinator.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022552018-03-19T14:08:12Z2018-03-19T14:08:12ZW.P. Carey Inc, a real estate investment trust, has named Robert Flanagan to its board of directors. Flanagan is president of private investment firm Clark Enterprises. He is also managing director of CNF Investments LLC.
]]>W.P. Carey Inc, a real estate investment trust, has named Robert Flanagan to its board of directors. Flanagan is president of private investment firm Clark Enterprises. He is also managing director of CNF Investments LLC.

PRESS RELEASE

NEW YORK, March 19, 2018 /PRNewswire/ — W. P. Carey Inc. (NYSE: WPC), an internally-managed net lease real estate investment trust, announced today that Robert J. Flanagan has been elected a director of the company. Mr. Flanagan is President of Clark Enterprises Inc., a private investment firm with a diversified portfolio of holdings including real estate and private equity. As Managing Director of CNF Investments LLC, its private equity division, he serves on the boards of Brown Advisory, Svelte Medical Systems and Vascular Therapies.

W. P. Carey Inc. Appoints Robert J. Flanagan to Board of Directors
Mr. Flanagan is a member of the Board of Advisors of Georgetown University’s McDonough School of Business. As a board member of the A. James & Alice B. Clark Foundation, which invests in engineering education, veterans support and the Washington, DC community, he oversees the vetting of organizations that provide substantive services to U.S. military veterans and their families.

Mr. Flanagan previously served as Chairman of the Board of Directors of Washington, DC’s Federal City Council, was a board member of two publicly traded companies, Martek Biosciences Corporation and Sagent Pharmaceuticals, and was Treasurer, Secretary and a member of the Board of Directors of Baltimore Orioles, Inc.

Mr. Flanagan received a BS in Business Administration from Georgetown University, an MS in Taxation from the American University School of Business and is a Certified Public Accountant licensed in Washington, DC.
Commenting on the election of Mr. Flanagan, W. P. Carey Chief Executive Officer Jason Fox noted: “We are thrilled to welcome Bob to W. P. Carey’s Board of Directors. Bob brings an extensive real estate and management background as well as a diverse range of board affiliations and experience. In addition, his work with the A. James & Alice B. Clark Foundation and commitment to philanthropy is consistent with our core value of Doing Good While Doing Well®. As one of today’s largest diversified net lease REITs, I know we will benefit from his valuable perspective and insights.”

W. P. Carey Inc.
Celebrating its 45th anniversary, W. P. Carey Inc. is a leading internally-managed net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the U.S. and Europe. At December 31, 2017, the Company had an enterprise value of approximately $11.5 billion. In addition to its owned portfolio of diversified global real estate, W. P. Carey manages a series of investment programs. Its corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Furthermore, its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows, enabling it to deliver consistent and rising dividend income to investors for over four decades.
www.wpcarey.com

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35022532018-03-19T14:05:38Z2018-03-19T14:05:38ZCerberus Capital Management has closed its previously announced acquisition of Pearland, Texas-based Cyanco, a producer of sodium cyanide, from Oaktree Capital Management LP. No financial terms were disclosed.
]]>Cerberus Capital Management has closed its previously announced acquisition of Pearland, Texas-based Cyanco, a producer of sodium cyanide, from Oaktree Capital Management LP. No financial terms were disclosed.

PRESS RELEASE

NEW YORK, March 19, 2018 /PRNewswire/ — Cerberus Capital Management, L.P. today announced the completion of the previously announced acquisition of Cyanco Holding Corp. by a Cerberus affiliate from funds managed by Oaktree Capital Management, L.P. The transaction closed on March 16, 2018.

Cyanco is the largest global producer of sodium cyanide, a critical input in the gold and silver mining industry. The company will remain headquartered in Pearland, Texas, and will continue to operate its manufacturing facilities in Nevada and Texas and delivery terminals in Wyoming, Quebec, and Mexico, enabling Cyanco to efficiently and reliably deliver its products to customers throughout the Americas and around the world.

Dev Kapadia, Senior Managing Director of Cerberus and Co-Chair of the Cerberus Private Equity Investment Committee, said: “With its proven business model and leadership in safety, reliability, and customer service, Cyanco has been a trusted partner to the gold and silver mining industry for nearly three decades. Cerberus is excited to work alongside Cyanco’s management team to build upon its track record of success, accelerate its existing growth strategy, and further strengthen its competitive position.”

Jeffrey Davis, President and CEO of Cyanco, said: “This closing is an important step for our company’s future and marks the beginning of our partnership with Cerberus, a firm with an impressive track record of operational excellence. Together, we will work to drive Cyanco’s next phase of growth, while continuing to provide our customers with superior products, services, and technology.”

Cyanco will continue to be led by its current management team. As part of its investment, Cerberus will be putting in place a new board of directors for Cyanco. The new board will be chaired by Daniel Ajamian, an executive who has been Chairman of several other Cerberus portfolio companies. In addition to Mr. Ajamian, Mr. Davis will continue his role on the Cyanco board and will be joined by executives from Cerberus and other executives with operating experience.

About Cerberus Capital Management, L.P.
Established in 1992, Cerberus Capital Management, L.P. is a global leader in alternative investing with more than US $34 billion under management across complementary credit, private equity, and real estate strategies. From its headquarters in New York City and network of affiliate and advisory offices in the U.S., Europe, and Asia, Cerberus has the on-the-ground presence to invest in multiple asset classes globally.

About Cyanco
Headquartered in Pearland, Texas, Cyanco is the largest global producer of sodium cyanide with manufacturing facilities in Nevada and Texas serving customers in North America, Latin America, and Africa. Cyanco’s Applied Technology provides consulting services, laboratory support, and cyanide processing technologies to assist customers in optimizing their metal recoveries and sodium cyanide usage throughout the mine lifecycle. Cyanco prides itself on its commitment to safety, and is one of the original signatories to the International Cyanide Management Code (ICMC) and is represented on the Industry Advisory Group to the International Cyanide Management Institute. All of Cyanco’s facilities are ICMC certified.

EMERYVILLE, Calif.–(BUSINESS WIRE)–Gritstone Oncology, a next-generation personalized cancer immunotherapy company, today announced that Jayant Aphale, Ph.D. has been appointed as Executive Vice President of Technical Operations.

Dr. Aphale will be responsible for process development and optimization, clinical material manufacturing under cGMP, and ensuring close collaboration with FDA and other regulatory agencies as Gritstone develops novel processes and products for personalized immunotherapy treatments. He will report to Andrew Allen, M.D., Ph.D., President and Chief Executive Officer, and will be based in the company’s Pleasanton, CA manufacturing facility.

Dr. Aphale brings more than 25 years of global manufacturing and technical operations experience within the vaccines, biologics and oligonucleotide domains. Most recently, he was Vice President of Technical Operations at Sarepta Therapeutics, where he led the technical operations team for internal process development, global supply chain and drug manufacturing across its drug candidate portfolio. He participated directly in launching Sarepta’s first commercial product, an antisense oligonucleotide, by developing and scaling manufacturing processes from Phase 1 through launch and commercialization.

His previous experience includes senior manufacturing and technical operations roles at GSK Vaccines, Enobia Pharma, Acambis Vaccines, Wyeth Vaccines, Diosynth and Roche Diagnostics. Dr. Aphale received his Ph.D. in microbiology from Ohio State University and an MBA in finance and strategy from The University of North Carolina.

“Jayant’s career to date positions him very well to lead all aspects of our manufacturing program, both strategically and operationally. He has led technical operations at all stages of the product life cycle at global life sciences companies, he has worked on viral vectors and oligonucleotides, and he has succeeded in both large and small companies. He is a significant addition to our team at Gritstone,” said Dr. Allen. “His experience at Sarepta and leading vaccine companies will provide us with important leadership and insights as our first personalized immunotherapy program enters clinical development in mid-2018.”

About Gritstone Oncology
Gritstone Oncology is a privately-held, next-generation personalized cancer immunotherapy company. Gritstone brings together distinguished scientific founders, an experienced and diverse management team, a seasoned and successful board of directors and deep financial backing to tackle fundamental challenges at the intersection of cancer genomics, immunology, and immunotherapy design. The Company’s initial goal is to leverage artificial intelligence to identify and deploy therapeutic neoantigens from individual patients’ tumors to develop novel treatments for lung, gastric, colorectal, and bladder cancer. In addition to neoantigen therapy development, Gritstone is leveraging its unique antigen discovery platform, EDGE™ (Epitope Discovery of cancer GEnomes), to define targets for shared antigen immunotherapies, which would provide an opportunity to treat even more patients. Gritstone Oncology is headquartered in the San Francisco Bay Area with key functions located in Cambridge, MA and Pleasanton, CA. The company launched in October 2015 and has received funding from leading blue-chip biotechnology investors, including Versant Ventures, The Column Group, Clarus Funds, Frazier Healthcare Partners, RedMile, Casdin Capital, Lilly Asia Ventures, Trinitas Capital, GV, Alexandria Venture Investments, and Bay City Capital. More information can be found at www.gritstoneoncology.com or @gritstoneonc.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35022322018-03-19T12:04:07Z2018-03-19T12:04:07ZCaisse de depot et placement du Quebec (CDPQ), one of Canada’s biggest public pension funds, has relied on private equity firms to invest in leveraged corporate buyouts. Now it is building its own investing team to depend less on buyout firms as middle men, Reuters reported. ]]>(Reuters) – Caisse de depot et placement du Quebec (CDPQ), one of Canada’s biggest public pension funds, has relied on private equity firms to invest in leveraged corporate buyouts. Now it is building its own investing team to depend less on buyout firms as middle men.

Private equity firms buy companies only to sell them a few years down the line for a profit. Their reputation as costcutters eyeing a speedier exit makes some companies more open to consider an investment from a longer-term investor such as CDPQ instead.

“These are interesting (opportunities) because typically these entrepreneurs or corporates didn’t want to partner with standard private equity firms,” Stephane Etroy, CDPQ’s head of private equity, said in an interview.

In recent years, large pension and sovereign wealth funds have teamed up with private equity firms to co-invest in corporate takeovers, in a bid to earn a greater share of profits and reduce their fees. However, private equity firms offer these co-investment opportunities only to their fund investors, known as limited partners.

Investing without the involvement of a private equity firm is still rare, making up only 62 of more than 300 direct deals carried out in 2017 by investors who were not private equity firms, according to the Boston Consulting Group. The majority of these direct deals were co-investments.

CDPQ, which manages almost C$300 billion ($229.2 billion) for retirees in Quebec, now makes two-thirds of private equity investments without the use of external managers.

To be sure, investor demand to get into private equity funds is still outstripping supply, resulting in record fundraising for the industry in 2017.

The resources required for such deals, ranging from sourcing opportunities to industry expertise, mean the option is open only to larger players like blue-chip pension funds and sovereign wealth funds.

“When you think about going direct without sponsors, for us it’s probably more the exception than the rule,” said Simon Marc, head of private equity at PSP Investments, another Canadian pension fund.

“We will do that in situations, typically with entrepreneurs or families, where people are looking for long-term capital and they want to stay away from traditional private equity-type capital,” he added.

CDPQ has much bigger plans for solo investing. The fund is looking to boost its headcount in Singapore – one of its three private equity offices along with London and New York – to more than ten in order to “have critical mass” for direct investing.

]]>0Alastair Goldfisherhttp://twitter.com/agoldfisherhttps://www.pehub.com/?p=35022002018-03-19T05:53:04Z2018-03-19T12:00:11ZSkycision, which provides a data platform that leverages drone and satellite imagery to help farmers manage crops, announced it has raised $1.1 million in seed-stage funding. The round was led by Innova Memphis, and other investors, including Dane Scurich, with Scurich Berry Farms and Pete Nelson with AgLaunch, a Memphis-based Accelerator. The company was founded in 2015 by CEO Brendan Carroll.]]>Skycision, which provides a data platform that leverages drone and satellite imagery to help farmers manage crops, announced it has raised $1.1 million in seed-stage funding. The round was led by Innova Memphis, and other investors, including Dane Scurich, with Scurich Berry Farms and Pete Nelson with AgLaunch, a Memphis-based Accelerator. The company was founded in 2015 by CEO Brendan Carroll.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35022272018-03-19T11:12:13Z2018-03-19T11:12:13ZBlackstone CEO Stephen Schwarzman is getting more perks from the firm he founded, according to a story from the Wall Street Journal. As part of a new agreement with Blackstone, Schwarzman’s estate will be allowed to invest in or alongside BX funds without fees in the decade after his death, the WSJ said, citing a regulatory filing. Schwarzman also has free access to a car and driver for life, the story said. The executive, if and when he retires, will also be reimbursed for travel on behalf of Blackstone and entitled to legal representation for matters related to the firm, the WSJ said.]]>Blackstone CEO Stephen Schwarzman is getting more perks from the firm he founded, according to a story from the Wall Street Journal. As part of a new agreement with Blackstone, Schwarzman’s estate will be allowed to invest in or alongside BX funds without fees in the decade after his death, the WSJ said, citing a regulatory filing. Schwarzman also has free access to a car and driver for life, the story said. The executive, if and when he retires, will also be reimbursed for travel on behalf of Blackstone and entitled to legal representation for matters related to the firm, the WSJ said.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35022252018-03-19T11:04:03Z2018-03-19T11:04:03ZCME Group Inc confirmed March 16 that it made a preliminary approach about a potential offer for NEX Group. Financial terms weren’t announced. NEX, of London, owns BrokerTec while CME owns the Chicago Mercantile Exchange. ]]>CME Group Inc confirmed March 16 that it made a preliminary approach about a potential offer for NEX Group. Financial terms weren’t announced. NEX, of London, owns BrokerTec while CME owns the Chicago Mercantile Exchange.

PRESS RELEASE

CME Group Inc. (“CME”) notes the announcement made by NEX Group plc (“NEX”) yesterday and confirms that it has made a preliminary approach regarding a potential acquisition of NEX.
CME and NEX currently are working together to allow CME to complete due diligence and determine whether a firm offer can be made. As a result, there can be no certainty that any firm offer will ultimately be made for NEX, nor in relation to the terms on which such offer may be made.
CME takes a disciplined approach to acquisitions with clearly defined strategic and financial objectives and an offer, if any, would have to meet these objectives.
In accordance with Rule 2.6(a) of the Code, CME is required, by not later than 5.00 p.m. on April 12, 2018, being the 28th day following the date of NEX’s announcement to either announce a firm intention to make an offer for NEX in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel on Takeovers and Mergers (the “Panel”) in accordance with Rule 2.6(c) of the Code.
A further announcement will be made if and when appropriate.
The person responsible for arranging for the release of this announcement on behalf of CME is John Pietrowicz.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35022192018-03-19T10:34:08Z2018-03-19T11:01:49ZSpectrum Equity has invested in Origami Risk. Financial terms weren’t announced. Spectrum has a minority stake. Origami Risk, of Chicago, is a risk and insurance Software as a Service (SaaS) technology firm.]]>Spectrum Equity has invested in Origami Risk. Financial terms weren’t announced. Spectrum has a minority stake. Origami Risk, of Chicago, is a risk and insurance Software as a Service (SaaS) technology firm.

Chicago, IL – March 19, 2018, 07:00 ET – Origami Risk, the industry leading risk and insurance Software as a Service (SaaS) technology firm, announced today that it has received an investment from Spectrum Equity, a leading growth equity firm. Representing a minority position, this is the first institutional capital in the company, which will facilitate access to additional insights and resources, as well as the ability to selectively pursue accretive acquisitions.

Origami Risk has grown to become the preeminent risk and insurance technology platform serving all members of the risk management community from insured corporate and public entities, to insurance carriers, brokers, TPA’s and risk consultants. The company provides an integrated platform of products including RMIS, GRC, Claims, Safety, Analytics, Underwriting and Data Tools. Origami Risk has the most experienced team in the RMIS industry, ensuring that client service and success is the central focus of each engagement. The company is led by CEO and Co-Founder Robert Petrie, who is an industry veteran and thought leader with over 20 years of operating experience.

“We are excited to partner with Spectrum Equity and look forward to leveraging Spectrum’s expertise with SaaS businesses and domain knowledge of risk and information services sectors,” said Robert Petrie, CEO of Origami Risk. “Our singular focus on client success will continue to drive our innovation and business model, which has always centered on delivering the best available technology and deeply skilled experts in order to help our customers meet their business objectives.”

Mike Farrell, Spectrum Equity Managing Director, said, “The Origami Risk management team has built an innovative, high growth business, and we have been continuously impressed with their accomplishments while getting to know them over the last five years. We are thrilled to support the team as they continue to invest in the industry’s leading RMIS platform and provide strategic insights to help achieve the company’s vision of continued leadership in risk and insurance technology.”

Financial terms of the transaction were not disclosed.

About Origami Risk

Origami Risk LLC was founded by industry veterans committed to designing intuitive web-based software that streamlines how risk, insurance and claims data is collected, analyzed and shared—ultimately helping users to be more productive and manage the total cost of risk for their organizations or for their clients. Origami Risk is consistently ranked by users as the top RMIS provider by users, as well as independent third parties. To learn more about Origami Risk, visit www.origamirisk.com, or contact Origami at info@origamirisk.com.

About Spectrum Equity

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Seamless Grubhub, Lynda.com, SurveyMonkey, Verafin and World-Check. For more information, visit www.spectrumequity.com.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35022212018-03-19T10:42:50Z2018-03-19T10:42:50ZPinnacle Asset Management LP said March 16 that it acquired Five Rivers Cattle Feeding for about $200 million. JBS USA was the seller. Five Rivers, of Greeley, Colorado, is a cattle feeding operation.]]>Pinnacle Asset Management LP said March 16 that it acquired Five Rivers Cattle Feeding for about $200 million. JBS USA was the seller. Five Rivers, of Greeley, Colorado, is a cattle feeding operation.

PRESS RELEASE

March 16, 2018 06:07 PM Eastern Daylight Time
GREELEY, Colo. & NEW YORK–(BUSINESS WIRE)–Pinnacle Asset Management, L.P., a leading commodities and natural resources investment firm, today announced it has successfully completed the acquisition of Five Rivers Cattle Feeding, a collection of cattle feeding assets and farms, from JBS USA for approximately $200 million. In conjunction with the transaction, Five Rivers entered into a long-term agreement to supply cattle to JBS USA beef processing plants.
Five Rivers Cattle Feeding is the largest cattle feeding operation in the world, with roots in the U.S. dating back to the 1920s, encompassing 11 feed yards across Arizona, Colorado, Idaho, Kansas, Oklahoma and Texas, and a feeding capacity of more than 900,000 head of cattle.
Five Rivers will continue to be led by its current management team, including CEO Mike Thoren, who will build upon Five Rivers’ strong track record of innovation, growth and stewardship.
Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle Asset Management, said, “We are pleased to have completed this transaction and believe Five Rivers has significant opportunities for growth. We look forward to working closely with Mike and his talented team to build upon Five River’s position as the leading cattle feeding operation in the world. Additionally, this transaction furthers Pinnacle’s mission to develop a diversified, global, physical commodity platform.”
Mr. Thoren added, “This is an exciting milestone in Five Rivers’ long history and a testament to the more than 600 skilled professionals who comprise the Five Rivers team. I am pleased to be partnering with Pinnacle, Arcadia, and Ospraie who share our vision for growth and our passion for providing high-quality fed cattle, including conventional, natural, certified humane and source-verified beef products, in a responsible and environmentally friendly way. We are grateful for JBS’ stewardship and are pleased to continue our relationship by remaining their leading supplier under a long-term agreement. The global demand for American beef remains robust and Five Rivers is well positioned to capitalize on the opportunities ahead.”
Jordan Levi, Managing Member of Arcadia Asset Management said, “I am looking forward to working closely with Pinnacle, Ospraie, Mike Thoren and the entire team at Five Rivers, who are among the most talented, innovative and dedicated executives in the industry. Five Rivers has bright future and on behalf of Arcadia, we are proud to be involved with this tremendous business.”
About Pinnacle Asset Management, L.P.
Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $2.3 billion under management. Pinnacle provides its institutional investor clientele with exposure to the global commodities markets via physical and financial absolute return funds, strategies and products. Pinnacle is registered with the Securities and Exchange Commission, is a commodity trading adviser and commodity pool operator registered with the Commodity Futures Trading Commission and a member of the National Futures Association.
About Arcadia Asset Management, LLC
Based in Oklahoma City and founded by Jordan Levi in 2009, Arcadia is a leading private cattle feeding operator. Jordan is a committee member for the National Cattlemen’s Beef Association and is a co-founder of the Fed Cattle Exchange. He served on the Board of Directors of the Texas Cattle Feeders Association.
About Ospraie Management
Ospraie is an investment management firm founded in 1999. Ospraie actively invests in basic industry and commodity markets on a global basis from a fundamentally driven, long-term perspective. The firm expresses its views by participation in the broader commodity and public equity markets, as well as private transactions.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35022172018-03-19T10:28:42Z2018-03-19T10:28:42ZRob Young has joined OpenGate Capital as a principal. He was previously with Marlin Equity Partners, where he was a vice president, his bio on the OpenGate site said.]]>Rob Young has joined OpenGate Capital as a principal. He was previously with Marlin Equity Partners, where he was a vice president, his bio on the OpenGate site said.

BOCA RATON, FL – March 15, 2018 – Dynasty Sports and Entertainment (“Dynasty” or the “Company”) today announced that affiliates of private equity firm ZMC have invested in the Company. Terms of the transaction were not disclosed.

Founded in 2010 by CEO Cole Rubin, Dynasty is a leading provider of ticket pricing, yield optimization and analytics services for professional sports teams and other live events rights holders. The Company leverages a proprietary ticket management system, Monarch, to manage secondary ticket inventory in real time. Today, the Company manages regular season and playoff ticket inventory for professional sports franchises, premier collegiate events, as well as a growing amount of inventory from concerts and other live events. Upon closing of the transaction, Mr. Rubin will remain as majority owner and Chief Executive Officer of the Company.

“ZMC’s investment will enable Dynasty to continue to offer best in class services, support, and technology for professional sports teams and other rights holders,” said Mr. Rubin, “Dynasty will benefit from ZMC’s active involvement and leadership as we continue to grow our customer base, enhance our technology and expand our product offerings.”

“Dynasty is a thought leader in ticketing technology and analytics and has assembled an outstanding management team that delivers consistently high results and service levels to its customers,” said Jordan Turkewitz, Managing Partner at ZMC. “ZMC has been impressed by the Company’s growth and is committed to supporting Dynasty’s investments in service and technology. The investment in Dynasty fits ZMC’s thematic focus on outsourced, mission critical technology and services benefiting from the secular demand in live events and experiences,” added Mr. Turkewitz.

About ZMC
ZMC is a leading private equity firm comprised of experienced investors and executives that invest and manage a diverse group of media and communications enterprises. Founded in 2001, ZMC’s investment philosophy centers on operational value creation driven by targeted investment themes, deep sector expertise, and strong partnerships with industry and operating executives. ZMC approaches its investments in collaboration with management teams and has a successful track record of actively adding value to portfolio companies. ZMC is currently investing out of ZMC II, L.P. www.zmclp.com

About Dynasty
Headquartered in Boca Raton, Florida, Dynasty is a technology-driven analytics and solutions provider to live events rights holders. Through its proprietary pricing, analytics and inventory management software platform, Monarch, Dynasty provides its partners improved revenue optimization, yield management and data to support ticketing operations. Formed by seasoned industry experts from the primary and secondary market, the Company’s approach is rooted in data analytics and technology-driven solutions to the growing live event ticketing market with an unwavering commitment to service, integrity and results. The Company partners with professional sports franchises, premier collegiate events, and other live events rights holders.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35022132018-03-19T10:21:03Z2018-03-19T10:21:03ZClaire’s Stores Inc said on Monday it filed for Chapter 11 bankruptcy protection and expects to reduce debt by about $1.9 billion, as the struggling retailer of girls’ accessories combats a fall in mall traffic, Reuters reported.
]]>(Reuters) – Claire’s Stores Inc said on Monday it filed for Chapter 11 bankruptcy protection and expects to reduce debt by about $1.9 billion, as the struggling retailer of girls’ accessories combats a fall in mall traffic.

Claire’s said it reached an agreement with creditors including Elliott Management Corp and Monarch Alternative Capital LP, which will provide it with about $575 million in new capital.

Claire’s expects to complete the Chapter 11 process in September.

The retailer’s international subsidiaries are not part of the U.S. bankruptcy filings, Claire’s said in a statement.

Claire’s is owned by private equity firm Apollo Global Management LLC (APO.N), which acquired it in 2007 for $3.1 billion.

]]>0Mark Boslethttps://www.pehub.com/?p=35022022018-03-19T05:44:45Z2018-03-19T09:00:13ZTwoXAR said it raised $10 million in Series A financing in a deal led by SoftBank Ventures and joined by the Andreessen Horowitz Bio Fund and OS Fund.]]>TwoXAR said it raised $10 million in Series A financing in a deal led by SoftBank Ventures and joined by the Andreessen Horowitz Bio Fund and OS Fund.

As part of the deal, JP Lee, a managing director at SoftBank Ventures, and Vijay Pande, a general partner at Andreessen Horowitz, have joined the board. SoftBank Ventures is an early stage venture capital arm of Japanese parent company SoftBank.

TwoXAR is a biopharmaceutical company that uses artificial intelligence to identify drug candidates for in vivo testing. The company previously raised $4.3 million in seed financing from investors including Andreessen Horowitz, CLI Ventures and Stanford’s StartX Fund.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017712018-03-16T19:00:41Z2018-03-16T19:00:41ZVictory Park Capital and International Finance Corporation, a member of the World Bank Group, have launched a new fund. No financial terms were disclosed. The fund will invest in financial technology companies in emerging markets.]]>Victory Park Capital and International Finance Corporation, a member of the World Bank Group, have launched a new fund. No financial terms were disclosed. The fund will invest in financial technology companies in emerging markets.

PRESS RELEASE

CHICAGO–(BUSINESS WIRE)–Victory Park Capital (“VPC”), a leading investment firm focused on providing flexible debt and opportunistic equity solutions worldwide, announced today that it has launched a new fund together with the International Finance Corporation (“IFC”), a member of the World Bank Group. The new fund will invest in financial technology companies in emerging markets. The partnership aims to improve access to debt capital for financial technology companies that lend to small businesses and consumers in emerging markets.

The new fund will combine VPC’s decade-long expertise in investing in financial services and financial technology with IFC’s leading role in investing in these sectors in developing countries. VPC and IFC will target growth investments in technology-driven companies across emerging markets with a focus on financial infrastructure, products and services.

“Our partnership with IFC, the largest global development institution focused exclusively on the private sector and a leading investor in financial technology in developing countries, opens a world of opportunities to fill the growing need for capital in emerging markets and scale our existing exposure,” said Brendan Carroll, senior partner and co-founder of VPC. “We are a long-standing investor to companies that provide innovative financial solutions, often overlooked by traditional investors despite generating attractive returns, and we are eager to continue identifying high-quality opportunities alongside IFC.”

Kai Schmitz, Principal Investment Officer of IFC, said: “Over the past few years, IFC has become a leading investor in financial technology companies in emerging markets which offer new solutions that expand access to finance. At the same time, we have seen a lack of growth capital available to these companies, both debt and equity financing to support new lending solutions. Partnering with Victory Park Capital allows us to bring the expertise of one of the leading specialized investors in this area to emerging markets and will encourage other investors to follow. We look forward to combining our more than 60 years’ experience in developing countries and financial services with Victory Park’s leading edge in this new sector.”

As one of the largest and most active financial technology investors in the industry, VPC has made over 40 investments in this sector globally.

About Victory Park Capital
Victory Park Capital Advisors, LLC (VPC) is a privately-held, SEC-registered alternative investment firm. As an internationally recognized financial services investor, VPC finances both emerging and established businesses seeking liquidity and/or capital structure reforms with the goal of accelerating value creation and generating attractive returns. The firm’s offerings leverage broad special situations and credit structuring expertise, differentiated deal origination, creative financing capabilities and a deep network of industry relationships. VPC was founded in 2007 and is headquartered in Chicago with additional offices in New York and Los Angeles. For more information, please visit www.victoryparkcapital.com.

About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017692018-03-16T18:57:30Z2018-03-16T18:57:30ZParachute Health, a healthcare tech platform, has raised $5.5 million in seed funding. The investors included Greater New York Hospital Association Ventures and Loeb Holding Corporation.]]>Parachute Health, a healthcare tech platform, has raised $5.5 million in seed funding. The investors included Greater New York Hospital Association Ventures and Loeb Holding Corporation.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017662018-03-16T19:19:15Z2018-03-16T18:55:53Z Tilray Inc has named Mark Castaneda as chief financial officer. Previously, he led IPOs for companies that included Primo Water Corp, Pike Electric Inc and Blue Rhino Corp. Tilray is a portfolio company of Privateer Holdings, a Seattle-based private equity firm focused on the legal cannabis sector.]]>Canadian medical cannabis startup Tilray Inc has named Mark Castaneda as chief financial officer. Previously, he led IPOs for companies that included Primo Water Corp, Pike Electric Inc and Blue Rhino Corp. Tilray is a portfolio company of Privateer Holdings, a Seattle-based private equity firm focused on the legal cannabis sector.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)–Tilray Inc., a global pioneer in cannabis cultivation, processing and distribution, today announced that Mark Castaneda has joined the company as Chief Financial Officer (CFO). In his capacity as Tilray CFO, Castaneda will be responsible for stewarding Tilray’s finances as the company pursues an aggressive global growth strategy to scale distribution of its high-quality cannabis products in Canada and internationally. Castaneda will be based in Toronto and report to Tilray CEO Brendan Kennedy.
Castaneda is a seasoned financial executive with broad experience in consumer goods, distribution, construction, energy, and retail in private equity and public high-growth companies at various stages of development from start-up to public. Previously, he served as CFO and led initial public offerings for high-growth companies such as Primo Water Corporation, Pike Electric, Inc., and Blue Rhino Corp. He currently serves as Audit Committee Chair on the Board of Directors of Ranir Global Holdings, LLC.

Tilray, licensed to cultivate cannabis in Canada and Europe, currently sells pharmaceutical-grade, GMP-certified medical cannabis products to tens of thousands of patients in ten countries spanning five continents. In February 2018, Tilray announced the completion of a C$60 million Series A funding round comprised of leading global institutional investors. Tilray closed an extension to that round of C$9 million from additional investors in March 2018, bringing the total round to C$69 million. Tilray will use the new funding to increase its existing production capacity in North America, to continue to build its European Union campus in Portugal, and to expand availability of its products to more patients and pharmacies around the globe. The terms of the Series A funding round, including Tilray’s valuation, were not disclosed.

About Tilray®
Tilray is a global pioneer in cannabis, cultivation, processing and distribution currently serving tens of thousands of customers in ten countries spanning five continents.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017632018-03-16T18:32:23Z2018-03-16T18:32:23ZParthenon Capital Partners has made an investment in Waltham, Massachusetts-based Trinity Partners, a life sciences strategy consulting firm. No financial terms were disclosed. Baird was financial adviser to Trinity on the transaction.
]]>Parthenon Capital Partners has made an investment in Waltham, Massachusetts-based Trinity Partners, a life sciences strategy consulting firm. No financial terms were disclosed. Baird was financial adviser to Trinity on the transaction.

PRESS RELEASE

BOSTON, MA — Parthenon Capital Partners (“Parthenon”), a growth-oriented private equity firm, announced an investment in Trinity Partners, LLC (“Trinity” or the “Company”), a leading commercialization strategy and analytics firm that partners with life sciences companies to help bring innovative treatments to market. The current Trinity management team will continue to lead the organization post-closing.

“We are excited to partner with Parthenon to pursue our growth strategy of building a comprehensive commercialization services company. We will continue to support our clients by offering strategic insights, deep therapeutic expertise and analytical tools that create evidence-based solutions to optimize market access, product adoption and overall value,” said David Fitzhenry, Managing Partner and Chief Executive Officer at Trinity. “We believe Parthenon’s extensive investment experience in healthcare combined with their track record of supporting growth-oriented companies on a path to market leadership makes them the ideal partner as we expand our platform.” Leslie Sandberg Orne, Senior Partner at Trinity also remarked, “Parthenon’s approach to growth resonated with us as we seek to extend our offering both organically and through strategic acquisitions. We see tremendous potential to build upon our relationship as a trusted partner to clients, while also bringing additional capabilities and innovative solutions to bear as they navigate an ever-evolving commercial landscape.”

Dave Ament, Co-CEO and Managing Partner at Parthenon said, “We are excited for this opportunity to partner with Dave, Leslie and the broader Trinity management team. The Company has one of the most talented teams in the industry, and we believe Trinity is well-positioned as a platform to help support life sciences companies and bring innovative solutions to the industry.”

Kurt Brumme, a Principal at Parthenon added “Trinity has sustained a market-leading reputation over 20+ years of helping clients optimize the performance of their products against a backdrop of increasing competition and market access challenges. We are excited to build upon this track record of success and to support the Company as it further expands its capabilities across the full spectrum of commercialization services.”

Terms of the investment were not disclosed. Baird acted as exclusive financial advisor to Trinity in connection with the transaction.

ABOUT TRINITY PARTNERS
Trinity Partners is a trusted life sciences strategy consulting firm that takes a personalized approach to working with pharmaceutical, biotech, medical device, and diagnostic clients worldwide to create evidence-based solutions that drive business strategy and impact bottom lines. Visit www.trinitypartners.com to learn more.

ABOUT PARTHENON CAPITAL PARTNERS
Parthenon Capital Partners (www.parthenoncapitalpartners.com) is a leading growth-oriented private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in technology and tech-enabled services industries.
Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing strong executive teams. Parthenon focuses on healthcare services and financial services with a particular expertise in HCIT, payments and financial technology.

]]>0Mark Boslethttps://www.pehub.com/?p=35017582018-03-16T17:42:29Z2018-03-16T17:42:29ZLas Olas Venture Capital has raised $28.5 million toward a $50 million venture capital fund, according to a filing with the SEC.]]>Las Olas Venture Capital has raised $28.5 million toward a $50 million venture capital fund, according to a filing with the SEC.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017542018-03-16T16:57:19Z2018-03-16T16:57:19ZTheSkimm, a daily newsletter for women, has raised $12 million in Series C funding, according to a source familiar with the transaction. GV led the round with participation from 21st Century Fox, RRE Ventures and Homebrew Ventures.]]>TheSkimm, a daily newsletter for women, has raised $12 million in Series C funding, according to a source familiar with the transaction. GV led the round with participation from 21st Century Fox, RRE Ventures and Homebrew Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017382018-03-16T16:18:38Z2018-03-16T16:18:38ZMedinas Health, a data-driven marketplace for healthcare organizations, has raised $1 million in seed funding. Sound Ventures and General Catalyst’s Rough Draft Ventures led the round with participation from other investors that included Precursor Ventures and Trammell Ventures.]]>San Francisco-based Medinas Health, a data-driven marketplace for healthcare organizations, has raised $1 million in seed funding. Sound Ventures and General Catalyst’s Rough Draft Ventures led the round with participation from other investors that included Precursor Ventures and Trammell Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017372018-03-16T16:11:59Z2018-03-16T16:11:59Z Strix Leviathan, a crypto trading startup, has raised $1.625 million in seed funding. Liquid 2 Ventures led the round with participation from other investors that included Founders’ Co-op, Future\Perfect Ventures and 9Mile Labs.]]>Seattle-based Strix Leviathan, a crypto trading startup, has raised $1.625 million in seed funding. Liquid 2 Ventures led the round with participation from other investors that included Founders’ Co-op, Future\Perfect Ventures and 9Mile Labs.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017352018-03-16T16:09:43Z2018-03-16T16:09:43ZRobinhood is reportedly raising $350 million in funding, according to a Wall Street Journal report. DST Global, a venture firm founded by Russian billionaire Yuri Milner, will lead the round. The funding will put Robinhood at a valuation of $5.6 billion.]]>Investing app Robinhood is reportedly raising $350 million in funding, according to a Wall Street Journal report. DST Global, a venture firm founded by Russian billionaire Yuri Milner, will lead the round. The funding will put Robinhood at a valuation of $5.6 billion.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017332018-03-16T15:45:58Z2018-03-16T15:45:58ZHeartland Ventures is seeking to raise $25 million for its maiden fund, according to an SEC filing. Based in South Bend, Indiana, Heartland Ventures invests in high-growth startups in the Midwest.]]>Heartland Ventures is seeking to raise $25 million for its maiden fund, according to an SEC filing. Based in South Bend, Indiana, Heartland Ventures invests in high-growth startups in the Midwest.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017302018-03-16T15:37:46Z2018-03-16T15:37:46ZFundamantal Advisors LP, an alternative asset manager focused on public purpose assets, has acquired a mezzanine loan secured by interests in Tandem Health Care, a skilled nursing and long-term portfolio, for $112 million. The seller was HCP Inc. Sidley Austin LLP provided legal counsel to Fundamental on the transaction. The Tandem portfolio consists of 41 senior care facilities in Florida, Pennsylvania and Virginia.]]>Fundamantal Advisors LP, an alternative asset manager focused on public purpose assets, has acquired a mezzanine loan secured by interests in Tandem Health Care, a skilled nursing and long-term portfolio, for $112 million. The seller was HCP Inc. Sidley Austin LLP provided legal counsel to Fundamental on the transaction. The Tandem portfolio consists of 41 senior care facilities in Florida, Pennsylvania and Virginia.

PRESS RELEASE

NEW YORK, March 15, 2018 — Fundamental Advisors LP (“Fundamental”), a leading alternative asset manager focused on public purpose assets, today announced the acquisition of a mezzanine loan secured by interests in Tandem Health Care, a skilled nursing and long-term healthcare portfolio, from HCP, Inc. (NYSE: HCP) for $112 million. The Tandem portfolio consists of 41 senior care facilities located throughout Florida, Pennsylvania and Virginia.

An active investor in critical community assets, Fundamental will leverage the firm’s extensive experience investing in senior care properties and expand its partnership with Senior Care Development, LLC.

“As Fundamental’s presence expands in the skilled nursing sector, we are pleased to invest in Tandem Health Care and support the crucial role these facilities serve in their communities,” said Laurence Gottlieb, Chairman and CEO of Fundamental Advisors.

Sidley Austin LLP served as legal counsel to Fundamental in the transaction.

About Fundamental Advisors
Fundamental Advisors is a leading alternative asset manager dedicated to the municipal markets. Founded in 2007, the firm is focused on targeting control oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose assets, or acquiring undervalued securities in the secondary market. Fundamental invests through a range of vehicles that capitalize on the growing opportunity set in the municipal market. For more information, please visit www.fundamentaladvisorslp.com.

CHICAGO–(BUSINESS WIRE)–True Value Company (“True Value”), one of the world’s largest retailer-owned hardware cooperatives, and ACON Investments (“ACON”), a diversified international private equity investment firm, today announced that they have entered into a definitive agreement to accelerate True Value’s long-term strategy to better support independent retailers.

Under the terms of the agreement, ACON will make a strategic investment in the new True Value operating company. ACON’s investment will result in current True Value retailers having 70% of their invested capital, 100% of their promissory notes and the 2017 Patronage Dividend repaid following close. This represents approximately $229 million in returns and credits to current True Value retailers, who will also retain a 30% holding in the new True Value Company.

The Board of True Value is unanimously recommending this transaction, which it believes represents a unique opportunity to accelerate the transformation of the business while also delivering compelling financial and retail benefits to our retailers. Benefits for retailers include:

RETURN OF MAJORITY OF INVESTED CAPITAL: Current True Value retailers will have 70% of their A & B stock (~$136 million) and 100% of promissory notes (~$72 million) repaid along with the 2017 Patronage Dividend of $20.6 million following the close of the transaction, representing a return of approximately $229 million to invest how they know best. Of that total, approximately $196 million will be paid in cash and approximately $32.7 million will be credited to eliminate amounts owed to the company.

ONGOING STAKE IN THE NEW TRUE VALUE: Current retailers will retain a 30% holding in the new True Value, allowing them to share in the additional value the company hopes to create in partnership with ACON.

VOLUME AND GROWTH REBATE PROGRAM: A volume and growth rebate program will keep the cost of doing business with True Value substantially similar for retailers.

NO NEW INVESTMENT REQUIRED FOR CURRENT OR NEW CUSTOMERS: There will no longer be a requirement to purchase stock to be able to purchase products from True Value, freeing up our members’ and customers’ capital.

NO NATIONAL AD FEE: The previously announced commitment to eliminate the promotional advertising fee will be upheld. True Value will continue to offer retailers à la carte marketing and advertising programs that will be highly customizable to help promote their businesses locally.

ACCESS TO NATIONALLY RECOGNIZED BRAND: Retailers can continue to use the True Value brand which gives them access to the trademark for use in their stores and advertising programs as well as other brand related programs like ship-to-store.

CONTINUED DAY-TO-DAY BENEFITS: Retailers will also benefit from the strengthening of retail services core to their success in doing business with True Value: competitive pricing and product, superior product availability and delivery, and à la carte value-added services like eCommerce ship-to-store, store remodel support and True Value University educational offerings.

“True Value and our retailers have been on a journey of progress together, as we have implemented our long-term strategic plan and invested in the business. As the retail industry continues to experience unprecedented change, we must ensure that True Value stays ahead of that change, so that we are best placed to support the independent hardware retailer for decades to come. As we have said consistently we must always seek methods to accelerate our strategy and we believe that this partnership offers us a unique opportunity to do just that. As the only branded national wholesaler without a membership requirement, True Value will lead the modernization of the business model in this channel,” said John Hartmann, President and CEO of True Value.

Hartmann continued, “We are very excited to be partnering with ACON, which has an impressive track record and highly relevant experience and expertise. We believe this is a fantastic opportunity for our retailers that will allow them to unlock the substantial majority of their investment while accelerating the transformation of the company to better serve our customers. We look forward to discussing the compelling benefits of this partnership with all of our retailers, and we are confident that they will support this initiative as the best way to ensure the long-term viability of the independent hardware retailer.”

“We have long admired the iconic True Value brand and have been impressed with the robust business that its retailers and support team have built together,” said Aron Schwartz, Managing Partner of ACON. “We strongly believe in the future of the independent hardware retailer and fully support the strategy that John and the rest of the True Value team have put in place. We look forward to working with True Value’s current leadership team to accelerate this strategy and better support retailers’ independence, growth and profitability.”

About True Value Company
True Value Company, headquartered in Chicago, is one of the world’s largest retailer-owned wholesale hardware cooperatives with gross billings of over $2.0 billion and revenue of $1.5 billion in 2017. The True Value cooperative includes approximately 4,400 independent retailer locations worldwide operating under the store identities of True Value, True Value Rental, Grand Rental Station, Taylor Rental, Home & Garden Showplace and Induserve Supply. Additional information on True Value and its retail identities is available at www.truevaluecompany.com.

About ACON Investments
ACON Investments, L.L.C. is a middle-market private equity investment firm led by a cohesive team that has been investing together for over 20 years. We partner with management teams to create value through separate funds for our investors across a wide range of industries in the U.S. and in Latin America. Founded in 1996, ACON is responsible for managing approximately $5.5 billion of capital.

ACON is committed to creating value for our investors by pursuing investments in industry-leading companies with dynamic management teams and untapped potential in compelling industries. We form strong partnerships with these talented management teams and support them with a flexible hands-on approach.

ACON has invested in a diverse portfolio of companies spanning over 60 investments in the United States, Europe and Latin America with operations spanning across six continents. Together, our portfolio companies reflect the breadth of our investment experience across various industries and geographies.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017262018-03-16T16:38:41Z2018-03-16T15:25:05ZLundbeck has agreed to acquire Prexton Therapeutics for 100 million euros and will later pay up to 805 million euros in development and sales milestones. Based in The Netherlands and in Switzerland, Prexton is a biopharmaceutical company. Prexton's investors include Forbion, Seroba Life Sciences, Sunstone Capital and Ysios Capital.]]>Lundbeck has agreed to acquire Prexton Therapeutics for 100 million euros and will later pay up to 805 million euros in development and sales milestones. Based in The Netherlands and in Switzerland, Prexton is a biopharmaceutical company. Prexton’s investors include Forbion, Seroba Life Sciences, Sunstone Capital and Ysios Capital.

PRESS RELEASE

Valby, Denmark, Oss, The Netherlands, 16 March 2018 – H. Lundbeck A/S (Lundbeck) and Prexton Therapeutics BV (Prexton) today announced signing of a definitive agreement in which Lundbeck will acquire Prexton. Under terms of the agreement, Lundbeck will pay EUR 100 million (approximately DKK 750 million) upfront and is furthermore required to later pay up to EUR 805 million (approximately DKK 6 billion) in development and sales milestones to the group of current owners.

By acquiring Prexton, Lundbeck will obtain global rights of an attractive compound (foliglurax) which currently is in clinical phase II testing for symptomatic treatment of OFF-time reduction in Parkinson’s disease and dyskinesia including Levodopa Induced Dyskinesia (LID). First data from the ongoing clinical phase II programme is expected to be available during the first half of 2019.

“By acquiring Prexton, Lundbeck will obtain global rights to foliglurax, an exciting first-in-class compound, and gain full control of the asset,” said Anders Götzsche, interim CEO and CFO at Lundbeck. “Foliglurax addresses high unmet needs with its potential indication in Parkinson’s fitting perfectly within Lundbeck’s core areas and this treatment option also appears to be highly interesting for patients, physicians and payors.”

Foliglurax works by stimulating a specific glutamatergic target (mGluR4) which activates a compensatory neuronal system in the brain which is largely unaffected in Parkinson’s disease. Animal models have convincingly demonstrated positive effects in models of Parkinson’s disease. The aim is to treat the motor symptoms of Parkinson’s disease, such as resting tremor, muscle rigidity and uncontrolled movements (dyskinesia).
Deal terms

Lundbeck will pay EUR 100 million upfront to the current investors of Prexton Therapeutics BV. Furthermore, Lundbeck is required to pay up to EUR 805 million in development, regulatory and sales milestones depending on successful outcome of certain undisclosed milestones. More than half of the EUR 805 million is connected to sales milestones.

Financial guidance
The content of this release will have no influence on Lundbeck’s financial guidance for 2018, which was provided on 7 February 2018. The upfront payment will be capitalized in the balance sheet as an intangible asset and tested for impairment annually or whenever there is indication of impairment.

About Prexton
Prexton is a biopharmaceutical company founded in 2012 by Francois Conquet and M Ventures, the corporate venture arm of Merck KGaA, their entrepreneurial partnership program, which supports the creation of spin-offs from Merck. Prexton applies a new scientific approach that fully integrates molecular, behavioral and chemistry technologies to address Parkinson’s disease and other brain disorders. Prexton is based in Oss (The Netherlands) and in Geneva (Switzerland). Other major investors include Forbion, Seroba Life Sciences, Sunstone Capital and Ysios Capital.

A single- and multiple-ascending oral dose phase I trial (NCT02639221) in healthy volunteers with foliglurax was successfully completed in 2016. The results showed that foliglurax appears well-tolerated with a satisfactory pharmacokinetic (how the drug is processed in the body) profile.

In July 2017, Prexton initiated a phase II clinical trial (NCT03162874) with foliglurax. The trial will enroll around 165 Parkinson’s patients in sites across six European countries (U.K., Germany, France, Austria, Spain, and Italy).

The double-blinded, randomized, placebo-controlled, parallel-arm study will assess the effectiveness, safety, and tolerability of foliglurax in reducing motor complications of levodopa therapy in patients experiencing end-of-dose wearing-off and levodopa-induced dyskinesia.

Two groups will receive oral doses (10 mg and 30 mg) of the treatment over 28 days, in addition to their standard medication, incl. levodopa. A third group will receive placebo. The primary outcome measure will be the change in the daily awake “OFF”-time (i.e. time where the treatment does not work) based on patient diary entries between the start and end of treatment. The study is expected to be completed in 2019.

About Parkinson’s disease
Parkinson’s is a devastating progressive neurological condition affecting around 6 million people worldwide. The disease is caused by the degeneration of dopaminergic brain cells. The main motor symptoms are resting tremor, muscle rigidity, and slowed movement (bradykinesia). Uncontrolled movements (dyskinesia) is a debilitating complication to levodopa use.

Current treatments aim to replace dopamine or to mimic its effects. Patients are administered with the dopamine precursor levodopa. This treatment provides adequate symptomatic relief initially, but over time, it loses efficacy as the disease progresses and patients experience serious debilitating, complications, such as increased OFF time and dyskinesia.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35017242018-03-16T15:21:19Z2018-03-16T15:21:19ZSIG Combibloc is preparing an autumn stock market listing in Zurich that could value it at about 4.5 billion euros ($5.5 billion), sources told Reuters. ]]>Swiss packaging maker SIG Combibloc is preparing an autumn stock market listing in Zurich that could value it at about 4.5 billion euros ($5.5 billion), three people close to the matter said.

Its private equity owner Onex (ONEX.TO) has hired Rothschild (ROTH.PA) as an IPO adviser, and other investment banks have also been contacted regarding their interest in helping organize a potential deal, the sources said.

A spokesman said SIG did not comment on speculation about its capital market plans. Rothschild declined to comment, while Onex was not immediately available for comment.

SIG makes cartons for beverages and food and competes with larger rival Tetra Pak, a unit of Tetra Laval. It is expected to post earnings before interest, tax, depreciation and amortization of about 450 million euros this year.

A listing may value the company at 9-10 times that, including debt, in line with other peers including Bery (BERY.N), Ball (BLL.N), Silgan (SLGN.O), Bemis (BMS.N) or Polyone (POL.N), the sources said.

Onex bought SIG in 2015 from New Zealand billionaire Graeme Hart in a deal valued at 3.75 billion euros ($4.62 billion) that left the Canadian private equity company and SIG’s management as 100 percent owners.

In an increasingly crowded European equity raising market, Switzerland is seeing a flurry of stock market listings, including medical devices maker Medartis and sensor maker Sensirion announced this week.

Rothschild is also working on the Zurich IPO of cargo handler Swissport and, on an as yet unspecified exchange, the listing of logistics firm Ceva, sources have said.

SIG had been listed in Switzerland before as part of the Schweizerische Industrie Gesellschaft (SIG) conglomerate that made everything from juice cartons and passenger trains and military weapons. Its businesses were gradually sold off as the company trimmed its focus to packaging.

At the time of Onex’s purchase in 2015, the firm had seven production facilities across Europe, South America and Asia Pacific. It currently employs than 5,000 people at about 40 locations around the world.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017152018-03-16T16:26:09Z2018-03-16T14:53:13ZEquistone will acquire a majority stake in BOAL Group, a Dutch maker of high-performance aluminium greenhouse roof and side-wall systems for glass and poly greenhouses. The sellers are BOAL's current CEO Ronald Boers and Marinus Boers, the founder of the BOAL Group. No financial terms were disclosed. The deal is expected to close in April 2018.]]>Equistone will acquire a majority stake in BOAL Group, a Dutch maker of high-performance aluminium greenhouse roof and side-wall systems for glass and poly greenhouses. The sellers are BOAL’s current CEO Ronald Boers and Marinus Boers, the founder of the BOAL Group. No financial terms were disclosed. The deal is expected to close in April 2018.

PRESS RELEASE

Munich/Naaldwijk, 16 March 2018 – Funds managed by Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity investors, have invested in BOAL Group (“BOAL” or “the Group”), a leading designer and manufacturer of high-performance aluminium greenhouse roof and side-wall systems for glass and poly greenhouses. Equistone will acquire a majority stake in BOAL Group from its current CEO Ronald Boers and the founder of the business, Marinus Boers, both of whom will retain a minority shareholding. BOAL’s management team will also acquire a minority stake in the business. The financial terms of the deal are undisclosed and the acquisition remains subject to clearance from anti-trust authorities.

Headquartered in Naaldwijk, the Netherlands, BOAL Group has 48 years of experience in designing and manufacturing aluminium roofing and sidewall systems for greenhouses and holds a market leading position in the horticultural greenhouse industry. It also supplies the construction, engineering, and transport sectors with aluminium extrusions. The production of its high-performance products is underpinned by its in-house experience, know-how, innovation and aluminium extrusion capabilities across its sites in the Netherlands (‘sGravenzande, Maasdijk, De Lier) and the UK (Shepshed). BOAL Group currently employs c.370 people and generated revenues of c.€155m in 2017.

Together with Equistone, BOAL plans to further develop its market-leading position in the horticultural greenhouse industry through continued product innovation, geographic growth and further expansion into the poly-greenhouse roofing systems market. It will do this whilst remaining a reliable partner to its existing customers for greenhouse systems as well as aluminium extrusions.

Marc Arens, Partner at Equistone, said: “BOAL Group already has an impressive market position which provides an outstanding foundation for the next phase of growth. Together with its exceptional management team, Equistone will build on BOAL’s strengths and continue its growth strategy. Our key priorities will be geographic expansion, product innovation and an extension of the Group’s existing product portfolio.”

Ronald Boers, CEO of BOAL Group, commented: “The greenhouse industry is growing rapidly, a development from which BOAL Group is set to benefit enormously. Equistone is the perfect partner for our ambitions and together we will continue to drive the company’s growth plans forward. We can rely on our long-term strategic partnerships with our customers and our long-standing experience and core competence in the extrusion of high-quality aluminium profiles for the greenhouse industry and other markets.” Marc Arens, Roman Emanuel Hegglin and Moritz Treude led the transaction for Equistone.

About Equistone Partners Europe
Equistone is an independent investment firm wholly-owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change of ownership deals and aims to invest between €25m and €125m of equity in businesses with enterprise values of between €50m and €500m. The company has a team of over 35 investment professionals operating across France, Germany, Switzerland and the UK, investing as a strategic partner alongside management teams. Equistone is currently investing its sixth buyout fund, which held a final closing at its €2.8bn hard cap in March 2018.

Equistone is authorised and regulated by the Financial Conduct Authority. Further information can be found at www.equistonepe.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017112018-03-16T14:48:54Z2018-03-16T14:48:54ZDetectify, a Sweden-based web security company, has raised 5 million euros in funding. Insight Venture Partners led the round with participation from Paua Ventures and Inventure.]]>Detectify, a Sweden-based web security company, has raised 5 million euros in funding. Insight Venture Partners led the round with participation from Paua Ventures and Inventure.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017062018-03-16T14:57:41Z2018-03-16T14:44:23ZShorehill Capital has added Charlie Denison as a principal to its investment team. Previously, Denison worked at Boston Consulting Group where he was a project leader within the firm's corporate development practice.
]]>Shorehill Capital has added Charlie Denison as a principal to its investment team. Previously, Denison worked at Boston Consulting Group where he was a project leader within the firm’s corporate development practice.

PRESS RELEASE

We are pleased to announce that Charlie Denison has joined Shorehill Capital LLC as the newest member of our investment team. Charlie is responsible for sourcing and closing new investments, conducting due diligence and executing portfolio management initiatives.

Charlie joins Shorehill from the Boston Consulting Group, where he was a Project Leader within the firm’s Corporate Development Practice. At BCG, he focused on corporate growth strategy, M&A due diligence, merger integration and a variety of operational improvement initiatives. Prior to BCG, he was a Principal at Adam Street Partners and a Senior Analyst at Merrill Lynch & Co. He holds an M.B.A. from Northwestern University’s Kellogg School of Management and a B.S. from the University of Colorado.

Charlie can be contacted at (312) 876-1863 and cdenison@shorehillcapital.com.

Actively Seeking Investments and Add-On Opportunities
If you have an opportunity that you think would be a fit with Shorehill, please contact a member of our team. We pledge to be highly responsive to opportunities you share with us and will get back to you quickly and constructively with thoughtful questions and feedback. We operate with consistency, transparency and efficiency during the transaction process and are always looking to expand our referral sources.

About Shorehill Capital LLC
Shorehill is a Chicago-based private equity firm focused on making control equity investments in North American engineered industrial product, industrial service and value-added distribution companies with enterprise values up to $150 million. Shorehill seeks opportunities where its experience, network and investment management approach can have a significant impact on investment performance. The Shorehill partners have a track record spanning nearly 30 years of helping middle market companies achieve increased growth and improved operational performance through a structured investment management plan. For additional information, please visit www.ShorehillCapital.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017052018-03-16T14:39:42Z2018-03-16T14:39:41ZMacquarie Capital has sold a minority stake in Norte III, a power generation facility in Ciudad Juárez, Mexico, to InfraRed and Invex. No financial terms were disclosed. As a result of the transaction, InfraRed and Invex now hold a 35.5 percent and 10 percent stake, respectively, in Norte III. Milbank, Tweed, Hadley & McCloy LLP advised Macquarie on the sale.]]>Macquarie Capital has sold a minority stake in Norte III, a power generation facility in Ciudad Juárez, Mexico, to InfraRed and Invex. No financial terms were disclosed. As a result of the transaction, InfraRed and Invex now hold a 35.5 percent and 10 percent stake, respectively, in Norte III. Milbank, Tweed, Hadley & McCloy LLP advised Macquarie on the sale.

PRESS RELEASE

NEW YORK, March 15, 2018 – Milbank, Tweed, Hadley & McCloy LLP has advised Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group (“Macquarie”), in connection with its sale to an entity controlled by affiliates of InfraRed Infrastructure Fund V (“InfraRed”) and Invex Infraestructura (“Invex”) of a 45.5% equity interest in a 907 MW combined cycle power generation facility, commonly referred to as “Norte III,” currently under construction in Ciudad Juárez, Mexico. As a result of the transaction, InfraRed and Invex acquired a 35.5% and 10.0% equity interest, respectively, in Norte III.

Norte III will benefit from availability-based revenues paid by government-owned Comisión Federal de Electricidad (CFE) under a 25-year, USD-denominated PPA. The construction of the Norte III project is being carried out by Techint Engineering & Construction (“Techint”), an Argentinian engineering, procurement and construction (EPC) services company. Macquarie and Techint will remain co-shareholders of Norte III.

The development of Norte III will help meet the growing need for electricity in the region. Upon completion, Norte III will be one of the largest combined-cycle power plants in Mexico and provide electricity to more than 500,000 homes.

The Milbank team was led by Corporate partner John Franchini and Project, Energy & Infrastructure partners Dan Bartfeld and Roland Estevez, as well as corporate and projects associates Daniel Valenza, Carolyn Matos Montes and Samantha Kwartler.

Mr. Franchini said: “We are delighted to have represented Macquarie Capital throughout its involvement in Norte III, from the initial acquisition and financing of the project last year to this partial sale of its equity interests in the project. This transaction illustrates the continued investor interest in well-structured Mexican energy infrastructure projects.”

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35017022018-03-16T14:36:51Z2018-03-16T14:36:51ZBascom Group has acquired Oxnard, California-based Tempo at Riverpark Apartments, an apartment community. The price of the acquisition was $75.25 million. Brian Eisendrath, Annie Rice and Brandon Smith of CBRE arranged the debt financing for the transaction.]]>The Bascom Group has acquired Oxnard, California-based Tempo at Riverpark Apartments, an apartment community. The price of the acquisition was $75.25 million. Brian Eisendrath, Annie Rice and Brandon Smith of CBRE arranged the debt financing for the transaction.

PRESS RELEASE

IRVINE, Calif., March 16, 2018 /PRNewswire/ — The Bascom Group, LLC (“Bascom”) has acquired Tempo at Riverpark Apartments (“Tempo”), a 235-unit infill apartment community located in the vibrant Riverpark community in Oxnard, California. The $75.25 Million acquisition ($320,213/unit) closed on March 13, 2018. Brian Eisendrath, Annie Rice, and Brandon Smith of CBRE arranged the debt financing for the purchase.

Built in 2016, Tempo is in the heart of the 704-acre master-planned Riverpark community and is within walking distance of numerous parks and jogging trails, newly built schools, and premium shopping and dining at The Collection. The Collection includes tenants such as Whole Foods, Target, REI, H&M, Century Cinemas, along with many other shops and eateries. The property’s access to employers along the 101 Tech corridor, as well as the Port of Hueneme and Naval base at Point Magu, makes Tempo an attractive location and home for Oxnard residents. In addition, Ventura County has a very affluent demographic with the highest median income in Southern California at $79,637 per household and median home prices well above $600 thousand.

Scott McClave, Senior Principal of Bascom, comments “Tempo was a rare opportunity to acquire a core asset in a very desirable coastal market in Ventura County at a discount to today’s replacement cost. The quality of the asset, proximity to employment, and market fundamentals were extremely attractive to us.”

James Singleton, Vice President of Bascom, also added “We are excited about investing in the Oxnard multifamily market. The high barriers to multifamily development have created a limited apartment supply in a high-demand housing market that is experiencing strong growth.”

Since 1998, Bascom and its affiliates have acquired 313 multifamily properties throughout the United States, totaling 82,557 units and currently holds 18,8860 units in its portfolio. Over the past twelve months Bascom has completed over $1.0 billion in multifamily transactions throughout the United States.

Paul Diamond, Senior Vice President of Operations for Bascom, comments “The community was built by a very reputable national developer and is well designed and built. We plan to implement some property upgrades that will make Tempo a top choice among multifamily product in the immediate area. The proximity to the Collection and Whole Foods makes this community a highly desirable location for renters.”

About Bascom: The Bascom Group, LLC is a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding extensive capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Jerry Fink, David Kim, and Derek Chen, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Bascom has completed over $15 billion in multifamily and commercial value-added transactions since 1996 including more than 313 multifamily properties containing over 82,000 units. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom’s subsidiaries and joint ventures include the Southern California Industrial Fund, Rushmore Properties, Bascom Portfolio Advisors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, MHF RM Holdings, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Venture Partners, Bascom Milestone Ventures, and the Realm Group. Bascom’s subsidiaries also include Premier Business Centers, the largest privately held executive suite company in the U.S. For additional information, please visit www.bascomgroup.com.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35017002018-03-16T14:32:56Z2018-03-16T14:32:56ZMubadala Investment Company [MUDEV.UL] is considering a partial or total sale of Spanish oil and gas company Cepsa and would use proceeds for expansion, a Mubadala spokesman told Reuters on Friday.]]>Abu Dhabi state investor Mubadala Investment Company [MUDEV.UL] is considering a partial or total sale of Spanish oil and gas company Cepsa and would use proceeds for expansion, a Mubadala spokesman told Reuters on Friday.

The state-owned fund is working with Cepsa management to look at options including a listing or the sale of a stake to another investor, it confirmed in a statement.

Mubadala wholly owns the Spanish company which refines oil and distributes fuel. Cepsa also has exploration and production interests in Latin America, north Africa and Asia.

After years of stake-building in Cepsa, the Abu Dhabi sovereign wealth fund bought the remaining shares it did not already own from France’s Total in 2011, in a deal valuing the Spanish company at around 7.5 billion euros ($9.3 billion).

“Options under consideration will include a potential listing, strategic partnerships and the involvement of other investors,” Mubadala said in an emailed statement.

A Cepsa spokeswoman in Madrid confirmed its owner was looking at a potential stock listing or sale.

Abu Dhabi produces most of the oil in the United Arab Emirates, which has the world’s seventh largest proved oil and gas reserves. It holds 6 percent of world crude reserves.

Mubadala’s chief executive officer said last year it was lining up new overseas investments and may also sell or reduce some of its existing stakes in companies.

Cepsa on Thursday reported a 60 percent jump in adjusted net profit, helped by an increase in the oil price and greater profitability at its refineries. Core profit jumped 18 percent to 1.87 billion euros.

The Abu Dhabi National Oil Company (ADNOC) in February awarded a 20 percent stake to Cepsa in Abu Dhabi’s offshore Sateh Al Razboot and Umm Lulu oil fields in the Persian Gulf.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016942018-03-16T14:18:00Z2018-03-16T14:18:00ZJohnson & Johnson (JNJ.N) said on Friday that it was offered about $2.1 billion for its LifeScan Inc unit, which makes blood glucose monitoring products, by private investment firm Platinum Equity.]]>Johnson & Johnson (JNJ.N) said on Friday that it was offered about $2.1 billion for its LifeScan Inc unit, which makes blood glucose monitoring products, by private investment firm Platinum Equity.

J&J had said in January last year it was evaluating options for its diabetes care companies – specifically LifeScan, Animas Corp, and Calibra Medical Inc – where sales have been falling since 2012.

“…following a thorough review of all strategic options, we feel confident that the business would have a promising future with Platinum Equity,” Ashley McEvoy, chairman of J&J’s consumer medical devices group, said in a statement.

The company said the acceptance period for the offer would end on June 15, unless extended, and during that time, consultations with relevant works councils were planned.

Reuters reported in January Chinese bidders were interested in J&J’s diabetes care companies in a deal that could fetch up to $4 billion.

A Reuters study of J&J’s financial results had found revenue at the diabetes care unit have been falling since 2012. In the first nine months of 2017, sales slid 7.7 percent year-on-year.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016922018-03-16T14:15:45Z2018-03-16T14:15:45ZMichael Dusi Logistics, a third-party logistics firm that caters to the wine and craft beer industry, has secured an undisclosed amount of funding. The investors were Tattooed Dog Holdings and Headhaul Capital Partners LLC. Bluejay Advisors, LLC advised the investors on the transaction.
]]>Paso Robles, California-based Michael Dusi Logistics, a third-party logistics firm that caters to the wine and craft beer industry, has secured an undisclosed amount of funding. The investors were Tattooed Dog Holdings and Headhaul Capital Partners LLC. Bluejay Advisors, LLC advised the investors on the transaction.

Proceeds from the investment will be used to support the Company’s growth initiatives and for general working capital purposes. Bluejay Advisors, LLC advised the investors in the transaction.

“We are very excited to have partnered with Tattooed Dog Holdings and Headhaul Capital since, in addition to their capital investment, they bring a significant amount of direct transportation and logistics operating and strategic experience to the table,” stated Michael Dusi, founder and Chief Executive Officer of MDL. “The investment will enable us to broaden and strengthen the services we provide to our customers.”

“Michael has spent the last twenty years building a unique solution for the wine industry and we believe companies with this type of niche specialization can be perfect partners for their customers,” stated John Giles, a senior advisor to Bluejay and an investor in MDL. “We are looking forward to working with Michael and the whole MDL management and driver team to further develop and grow the company.”

“With a diversified fleet of specialty trailers and warehouse capacity to store over a million cases of wine, MDL is well-positioned to provide an integrated logistics solution for the wine industry,” stated Seth Wilson, Managing Partner of Headhaul Capital. “In addition, the company’s direct-to-consumer fulfillment and wine club services are a good fit with the increasing demand for eCommerce in the wine industry.”

About Michael Dusi Logistics
Michael Dusi Logistics, based in Paso Robles, CA, is a niche, third-party logistics (3PL) firm that provides a broad suite of specialized solutions to the wine and craft beer industry. MDL was founded over 20 years ago by Michael Dusi as an extension of the Dusi family’s 90-year history in the Central Coast of California wine region. MDL’s suite of logistics services includes value-added warehousing, direct-to-consumer fulfillment and wine clubs, regional trucking and brokerage. The Company provides its solutions to a broad group of vineyards, wineries, breweries and distributors through two strategically located, temperature-controlled warehouses with over a 1.0 million cases of storage capacity and a diversified, flexible tractor and trailer fleet which includes flatbeds, tankers, refrigerated, dry-van and heavy haul trailers.

Visit www.michaeldusitrucking.com and www.dusiwinewarehouse.com.

About Bluejay Advisors, LLC
Bluejay Advisors, LLC is a management consulting and investment firm comprised of senior business professionals that specialize in improving client’s financial and operational performance by delivering solutions that support long-term corporate strategy. Bluejay Advisors delivers results through tailored services and functional expertise in transportation, strategic planning, project management and operational controls. Bluejay Advisors routinely invest with their clients on the projects in which they are engaged. Visit www.bluejay-advisors.com.

About Headhaul Capital Partners, LLC
Headhaul Capital Partners LLC is a New York-based middle market private equity firm focused on investing in and building businesses in the transportation, logistics & distribution industries. The Managing Partners have extensive private equity and operating experience with an average of 20 years of experience specifically in our focus industries. This longstanding history of specialization and particular capabilities in these industries offers senior executives a unique opportunity to partner with an investment team that works to create value through a proven combination of an in-depth understanding of niche-trends, experience in delivering operational efficiency, debt and equity capital markets knowledge, and execution of strategic and acquisition driven growth initiatives. Visit www.headhaulcapital.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016902018-03-16T14:13:24Z2018-03-16T14:13:24ZRussell Center for Innovation & Entrepreneurship, an Atlanta-based community with lab-to-market resources for emerging industries, has named James Bailey as president and CEO. Previously, Bailey was a founder of Greenwood Archer, a private equity firm focused on investing in emerging domestic markets, urbanization and affordable housing.
]]>The Russell Center for Innovation & Entrepreneurship, an Atlanta-based community with lab-to-market resources for emerging industries, has named James Bailey as president and CEO. Previously, Bailey was a founder of Greenwood Archer, a private equity firm focused on investing in emerging domestic markets, urbanization and affordable housing.

PRESS RELEASE

ATLANTA, March 16, 2018 /PRNewswire/ — The Russell Center for Innovation & Entrepreneurship (RCIE) announces the hiring of James “Jay” Bailey as its President and CEO, effective March 2018. Bailey joins RCIE with more than a decade of senior leadership experience in the non-profit and economic empowerment space. Most recently, Bailey founded one of the nation’s most innovative private equity firms, Greenwood Archer – dedicated to reimagining the way America’s most under-served communities leverage assets, establish wealth, strengthen infrastructure and create jobs.

Before Greenwood Archer, Bailey served as CEO for the Southeastern Region of Operation HOPE, a global nonprofit organization focused on financial literacy. Under his leadership, Operation HOPE’s southeastern region grew from a single-person operation in 2007, to 19 offices by 2015, helping more than 160,000 youth, adults and families start businesses, buy homes, raise credit scores and increase their financial dignity.

“Growing up in Atlanta, Herman Russell was one of my greatest heroes,” said Bailey. “I am honored to have this opportunity to build on his incredible legacy, paving the way for the next generation of doers, innovators and job creators. Much more than another accelerator or incubator, we want RCIE to become the epicenter of economic advancement and entrepreneurship for under-represented communities across the country, and it’s so fitting that it will evolve in the former H.J. Russell & Company headquarters at 504 Fair Street on Atlanta’s Westside.”

An Atlanta native, Bailey has a proven track record of success. Recognized by three U.S. Presidents for his leadership and community efforts, Bailey was one of eight Americans honored at the White House in 2012 as a “Champion of Change: Following in the Footsteps of Dr. Martin Luther King, Jr.” He was also named to both the Atlanta Business Chronicle and Georgia Trend magazine’s “40 Under 40 Best and Brightest Leaders of the Future.” Bailey is a graduate of Leadership Atlanta, Leadership Georgia and the ARC Regional Leadership Institute.

“We are excited about Jay’s addition to the Russell family. He brings the experience, passion and energy we believe necessary to lead the Russell Center for Innovation & Entrepreneurship from concept to reality,” said Jerome Russell, president of H.J. Russell & Company and chairman of the RCIE board. “The Russell Center will be a game changer for entrepreneurs in the city of Atlanta and beyond, connecting the next generation of revolutionary entrepreneurs to the tools and relationships needed to turn dreams into reality.”

About the Russell Center for Innovation & Entrepreneurship (RCIE)
Currently in the development stages for a late 2018 opening, RCIE will house a 40,000-square-foot, world-class, entrepreneurial innovation and leadership center located in Atlanta’s Historic Castleberry Hill industrial neighborhood. The mission of RCIE is to empower entrepreneurs and innovators to create, invent and learn while being engaged and motivated to develop game-changing new ideas to promote economic empowerment. RCIE will be a collaborative, co-working ecosystem for both aspiring and experienced entrepreneurs, connecting a customized curriculum with corporate experience. RCIE will help foster and grow relationships between venture capitalists and Atlanta’s top entrepreneurial talent while honoring the legacy of Herman J. Russell by revitalizing the area with a hub of innovation, imagination and opportunity for Atlanta’s entrepreneurs. For more information, visit http://rcie.org/.

Boardwalk Consulting of Atlanta led the President and CEO search for RCIE.

BURBANK, Calif., March 15, 2018 /PRNewswire/ — Robert Simonds, Chairman and CEO, STX Entertainment, today announced the promotion of executive Patricia Röckenwagner to Chief Brand Officer. In this newly created role, she will oversee all aspects of communications and marketing for the global STX brand, its strategic positioning and the company culture. Röckenwagner will continue to be a key member of STX’s leadership team, and will collaborate with the studio’s film, digital, television and VR divisions to maximize brand equity.

“With the constant state of change in our industry and STX’s meteoric growth, it’s more critical than ever to elevate our brand globally,” said Simonds. “Patti is one of the most talented and creative executives in the business, and with her strategic counsel, skillful entrepreneurialism and deep expertise across media, entertainment, technology and culture, there is no limit to what we can accomplish together.”

“What we have collectively accomplished in just a year is truly remarkable,” added Röckenwagner. “From creating the company brand architecture, to crafting our positioning in China and around the world, there is so much potential for telling our story of disruption and innovation. I look forward to working with Bob and the smart, creative STX team to build the media company of the future.”

Röckenwagner most recently served as Chief Communications Officer at STX, where she has been a vital member of the management team and was responsible for advancing the company’s positioning as a global next-generation entertainment company, bridging the U.S. and Chinese markets. Prior to joining STX, Röckenwagner was Senior Advisor at Advance Vixeid Partners, the independent investment arm of Advance Publications and Condé Nast. In that role, she guided the VC and its portfolio companies on external and go-to-market strategy.

She previously led corporate branding and communications for Condé Nast and before that, held global executive positions at McGraw Hill Financial (now S&P Global), Paramount Pictures, Time Warner Cable, Comcast and AT&T. Röckenwagner started her career in politics, working for Senators Ted Kennedy in Washington, DC, Art Torres in Sacramento and Tom Hayden in Los Angeles.

About STX Entertainment
STX Entertainment is a global, next-generation media company whose mission is to unlock the value of the direct connection stars have with their fans through the development, financing, production, marketing and distribution of film, television, VR, digital video, music and live entertainment content. It is the industry leader in transforming beyond traditional platform-driven content to creating talent-driven enterprises.

The company is led by accomplished businessman Robert Simonds and was co-founded by Bill McGlashan, managing partner of the leading global private investment firm TPG. Other investors include Hony Capital, a leading private equity firm in China; PCCW, Southeast Asia’s largest Internet and cable services provider; Tencent Holdings, China’s leading provider of online products and services; Liberty Global, the world’s largest distribution platform; Dominic Ng, Chairman of East West Bank; DNS Capital (representing the business interests of Gigi Pritzker and her immediate family); and Beau Wrigley, former Chairman and CEO of the Wm. Wrigley Jr. Company, among others. With these strategic relationships, the company is uniquely positioned to maximize the impact of content worldwide, with direct passage into the China market.

For more information, please visit http://www.stxentertainment.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016862018-03-16T14:08:21Z2018-03-16T14:08:21ZSpindrift, a sparkling water made with real fruit, has raised $20 million in funding. VMG Partners led the round with participation from other investors that included Prolog Ventures, KarpReilly and RiverPark Ventures.
]]>Newton, Massachusetts-based Spindrift, a sparkling water made with real fruit, has raised $20 million in funding. VMG Partners led the round with participation from other investors that included Prolog Ventures, KarpReilly and RiverPark Ventures.

]]>0Chris Witkowskyhttps://www.pehub.com/?p=35016592018-03-16T11:23:09Z2018-03-16T11:23:09ZClearlake Capital Group closed its fifth fund on more than $3.6 billion, reaching its hard cap. The fifth fund started investing and closed or signed several investments including Perforce Software, Diligent Corp, Janus International, ProVation Medical and Wheel Pros. Fund V included more than 150 institutional investors from more than 25 companies across North America, South America, Asia, Europe and the Middle East. LPs included public and corporate pensions, sovereign wealth funds, insurance companies, foundations and endowments and family offices. Credit Suisse worked as placement agent on the fundraising.]]>Clearlake Capital Group closed its fifth fund on more than $3.6 billion, reaching its hard cap. The fifth fund started investing and closed or signed several investments including Perforce Software, Diligent Corp, Janus International, ProVation Medical and Wheel Pros. Fund V included more than 150 institutional investors from more than 25 companies across North America, South America, Asia, Europe and the Middle East. LPs included public and corporate pensions, sovereign wealth funds, insurance companies, foundations and endowments and family offices. Credit Suisse worked as placement agent on the fundraising.

Press Release

Clearlake Capital Group, L.P. (“Clearlake”), a leading investment firm with a sector-focused approach, announced today it has completed fundraising for Clearlake Capital Partners V (“Fund V”) with over $3.6 billion in commitments.

Fund V exceeded its target and was substantially oversubscribed, reaching its hard cap. At over $3.6 billion, Fund V is Clearlake’s largest private equity fund to date. This brings Clearlake’s total cumulative capital commitments since inception to more than $7 billion. Fund V has already begun investing with several signed or closed transactions including Perforce Software, Diligent Corporation, Janus International, ProVation Medical, and Wheel Pros.

“We are thankful and humbled by the opportunity to prudently invest on behalf of our prominent and expanding base of global Limited Partners,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake. “We believe that the interest in Fund V is an acknowledgment of Clearlake’s superior track record and strategy. Clearlake brings deep industry knowledge and relationships, access to capital, and a flexible investment mandate to our partner management teams in our target sectors: industrials and energy, software and technology-enabled services, and consumer.”

“We are grateful that investors appreciate the strength of the Clearlake franchise in positively transforming businesses,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “Clearlake creates value and provides patient, long-term capital to dynamic businesses that can benefit from our proprietary operational improvement approach, O.P.S.® We believe Clearlake has the investment and operational skills to execute its strategy and generate superior returns at this scale.”

Fund V welcomed more than 150 different institutional investors from over 25 countries across North America, South America, Asia, Europe, and the Middle East. Investors include public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.

“As we met with Limited Partners around the world, we continued to hear an excitement around Clearlake’s proven strategy, our core team which has been together for more than 11 years, and our unwavering commitment to investing with insight and discipline in our target sectors. We are very appreciative of the support from our longtime Limited Partner relationships and are delighted to welcome new institutional investors into the Clearlake family. We look forward to growing with these investors as we continue to earn their support through consistent execution,” Eghbali and Feliciano concluded.

Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials and energy; software and technology-enabled services; and consumer. Clearlake has managed over $7 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016252018-03-15T20:17:58Z2018-03-15T20:17:58ZMFG Chemical, which is owned by Platte River Equity, has acquired Houston-based Gulf Bayport Chemicals, a maker of maleic anhydride derivatives.
]]>MFG Chemical, which is owned by Platte River Equity, has acquired Houston-based Gulf Bayport Chemicals, a maker of maleic anhydride derivatives.

PRESS RELEASE

DALTON, Ga., March 15, 2018 /PRNewswire/ — MFG Chemical, a specialty chemical manufacturer of polymers, surfactants and esters, announced today that it has acquired Gulf Bayport Chemicals LP (“GBC” or the “Company”). Headquartered in Houston, TX, with plant operations in Pasadena, TX, GBC is a manufacturer of maleic anhydride derivatives and provides a variety of contract manufacturing, warehouse and transportation services for a range of industrial end markets.

“The acquisition of GBC expands MFG’s geographic footprint into the Gulf Coast, demonstrating commitment to our customers in the region,” said Keith Arnold, CEO of MFG Chemical. “We are excited for this acquisition and the growth opportunities it will provide to MFG in the future.”

The addition of GBC brings a world-class chemical facility in an ideal location in the Houston ship channel area. The site benefits from direct rail access and an extensive utility infrastructure, providing MFG the opportunity to significantly expand its manufacturing capacity.

“GBC has developed a great reputation as a producer of maleic anhydride-based chemicals for customers in various end markets,” said CEO of GBC, John Nowlan. “We believe that our capabilities and customer and supplier relationships will complement MFG’s strong position in the specialty chemicals market.”

About MFG Chemical
Founded in 1981 and based in Dalton, GA, MFG is a specialty chemical manufacturer of polymers, surfactants and esters used in various applications in the oil field, water treatment, mining, coatings, agricultural and other industrial markets. In June 2017, MFG was acquired by Platte River Equity, a Denver-based private equity firm focused on investments in lower middle market companies across various industrial sectors.

About Platte River Equity
Based in Denver, Colorado, Platte River Equity is a private equity firm focused on equity investments from $20 million to $100 million in lower middle market operating companies with enterprise values generally between $40 million and $250 million. The firm invests in sectors where it has deep operating and investing experience, including aerospace & transportation; energy & power; agriculture & chemicals; and metals & minerals. Platte River has raised funds with committed capital in excess of $1.3 billion.

About SOCMA
The Society of Chemical Manufacturers & Affiliates (SOCMA) is part of a $300 billion industry that’s fueling the U.S. economy. Our members play an indispensable role in the global chemical supply chain, providing specialty chemicals to companies in markets ranging from aerospace and electronics to pharmaceuticals and agriculture. For more information on becoming a part of this growing and innovative association, visit www.socma.com.

After killing a doc, United Airlines mistakenly ships another to Japan while his family flew to Kansas City!

Photo: Earphones are seen on top of a smart phone with a Spotify logo on it, in Zenica February 20, 2014. Reuters/Dado Ruvic

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016162018-03-15T19:45:10Z2018-03-15T19:45:10ZAlgoreg, a regulatory tech company, has raised $1 million in Series A funding. GAI RegTech Ventures, Jean-Pierre Bitton and G&F fund led the round.]]>Luxembourg-based Algoreg, a regulatory tech company, has raised $1 million in Series A funding. GAI RegTech Ventures, Jean-Pierre Bitton and G&F fund led the round.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35016002018-03-15T19:33:16Z2018-03-15T19:33:16ZInterVision Systems, which is backed by Huron Capital, has acquired Indianapolis-based Bluelock, a provider of disaster recovery and infrastructure-as-a-service solutions. No financial terms were disclosed. Q Advisors provided financial advice to InterVision and Huron Capital on the transaction.]]>InterVision Systems, which is backed by Huron Capital, has acquired Indianapolis-based Bluelock, a provider of disaster recovery and infrastructure-as-a-service solutions. No financial terms were disclosed. Q Advisors provided financial advice to InterVision and Huron Capital on the transaction.

For more than a decade Bluelock has provided expertise, guidance, and proactive support to help organizations mitigate IT risks surrounding complex environments and sensitive data through disaster recovery as a service and infrastructure as a service solutions. Bluelock is recognized by technology research firms Gartner and Forrester as a visionary and leader in its category.

“InterVision has the services, solutions, people, and technical expertise to serve clients wherever they are in their journey – from traditional on-premise and managed services to private and public cloud,” said Christopher Clapp, CEO of Bluelock. “By joining the specialized expertise of Bluelock with InterVision and Huron Capital, we expect to better leverage our success and bring our specific expertise and experience into more client relationships.”

“With a strong position in the marketplace and a great cultural fit, we believe Bluelock is an important addition to the InterVision platform as we grow our service lines and national reach,” said Matt Hare, Partner at Huron Capital. “This move continues our buy and build strategy, and should further position InterVision as a key player in the IT solutions industry.”

About Huron Capital
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 150 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million.

Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit www.huroncapital.com.

About InterVision
InterVision’s mission is to unlock value by delivering innovative technology through a consultative approach. The company delivers innovation through a broad portfolio of IT managed services, on-premise solutions, professional services, cloud solutions, automation, and consulting services that organizations need to thrive in today’s dynamic IT market. InterVision’s vendor-certified sales and engineering staff have specialized expertise in all areas critical to IT environments. The company has regional headquarters in Santa Clara, Calif. and St. Louis, Mo., as well as offices and data centers in the Central and Western U.S. Learn more at www.intervision.com.

About Bluelock
Bluelock provides Disaster Recovery-as-a-Service for complex environments and sensitive data to help companies mitigate risk with confidence. Bluelock is the provider enterprise organizations turn to for highly resilient cloud services because of its ability to support unique requirements. Its exclusive program, Bluelock Recovery Assurance™ gives clients complete confidence their disaster recovery solution will be uncompromisingly secure, expertly tailored, thoroughly supported and comprehensively tested. With data centers in the US, Bluelock supports a wide range of compliance frameworks and is SOC 2 Type II audited. For more information, visit www.bluelock.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015712018-03-15T18:54:57Z2018-03-15T18:50:15ZThe Carlyle Group has raised over $15 billion for its seventh flagship fund, according to an SEC filing. No target was listed on the document. Last November, an article in Bloomberg reported that Carlyle Partners VII was nearing a hard cap of $18 billion.]]>The Carlyle Group has raised over $15 billion for its seventh flagship fund, according to an SEC filing. No target was listed on the document. Last November, an article in Bloomberg reported that Carlyle Partners VII was nearing a hard cap of $18 billion.

The administration’s heightened regulatory scrutiny on foreign investments, designed to safeguard U.S. companies, could in fact diminish their ability to compete in the global technology industry.

“Asian entities have become sources of capital and relationships for U.S. companies,” said Jeff Richards, a managing partner at GGV Capital, which invests in the United States and China. “This deal getting blocked is not going to go unnoticed around the world.”

Chinese companies have been important investors in, and occasionally buyers of, U.S. startups. Internet giants Tencent Holdings and Alibaba Group have made big investments in U.S. private companies including augmented-reality headset creator Magic Leap, ride-services firms Lyft Inc and Uber Technologies Inc, and prior to its initial public offering, messaging app maker Snap Inc.

Trump’s order on Monday focused on national security concerns that chipmaker Broadcom’s proposed acquisition of San Diego-based Qualcomm would weaken Qualcomm and hand an advantage to Chinese companies looking to build next-generation wireless networks in the United States.

It was also the latest in a series of actions by Trump’s administration, including tariffs on steel and aluminum, to establish a more protectionist stance in an effort to tamp down Chinese imports while raising the regulatory bar on what deals get approved.

“There is a very thin line between national security and economic protectionism and the use of an executive order to block this merger traverses this line very delicately,” said Venky Ganesan, an investing partner at Menlo Ventures.

Trump’s move was based on a review by the Committee on Foreign Investment in the United States (CFIUS), an inter-agency panel that has never before blocked a deal before it has been signed.

The broadening reach of CFIUS has chilled Silicon Valley, where startups often turn to Chinese investors not just for cash but for help connecting with supply chains and entering Asian markets.

Stopping Broadcom’s deal was a “broad litmus test (that) will likely cut off market opportunities, strategic alliances, key sources of financing and exits for U.S. tech companies in the future,” said David Sullivan, managing director of Alliance Development Group, a firm that helps U.S. tech companies enter the Chinese market.

There were 165 Chinese investor-backed deals in U.S. tech startups last year. That is a drop from a high of 188 deals in 2015, reflecting increased U.S. regulatory pressure and tighter capital controls in China, according to data firm CB Insights.

The total of financing rounds into U.S. startups last year that involved Chinese entities was $9.3 billion, or 11 percent of the total, according to data firm PitchBook Inc.

U.S. venture capital funds are also raising more money from Chinese family offices and investment firms, but legislation introduced last year in Congress that aims to strengthen CFIUS could change that. Language in the bill could require venture funds that have raised money from foreign investors to get government approval for the startup investments they make, a proposition the startup community has called untenable.

Any sort of retaliation by China to such measures could sever the relationship between U.S. tech firms and the world’s second-largest economy.

“We don’t want to go down the path where they use ‘national security’ as a reason to get us out of their market,” said Steve Hoffman, chief executive of Founders Space, a startup incubator based in San Francisco that has locations in China.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015662018-03-15T18:38:18Z2018-03-15T18:38:18ZFSN Capital Partners, a Scandinavian private equity firm, has launched an office in Munich, Germany. Also, the firm has hired Robin Muerer and Justin Kent as partners for the new office. Both will lead the investment effort in the DACH region.]]>FSN Capital Partners, a Scandinavian private equity firm, has launched an office in Munich, Germany. Also, the firm has hired Robin Muerer and Justin Kent as partners for the new office. Both will lead the investment effort in the DACH region.

Established in 1999, FSN Capital Partners (“FSN Capital”) is a leading Scandinavian midcap private equity firm and adviser to the FSN Capital Funds (the “FSN Funds”) with more than €2 billion under management. With offices in Oslo, Stockholm, Copenhagen and Munich, the team of 43 invests primarily in growth-oriented, mid-sized companies in the industrial, digital, business service and consumer sectors. FSN Capital seeks to support management teams that share the firm´s philosophy of driving organic growth initiatives and implementing acquisitive growth strategies.

Long-term commitment to the DACH region
With the new office and with hiring of two new partners in Munich, FSN Capital has now taken its first step in establishing a long-term presence in the DACH region. Joining the existing team of eight Scandinavian Partners are Robin Muerer and Justin Kent. With broad international experience, Robin and Justin combined bring more than two decades of experience investing in the DACH region to the FSN team. Having spent the past ten years with Apax Partners in Munich and in London, Robin has focused primarily on investing in the digital, consumer and healthcare sectors. Justin has spent the last twelve years of his career focusing on small and midcap investments throughout Europe, first at The Riverside Company and, more recently, at Capvis Equity Partners, where he focused exclusively on investing in the DACH region.

“Expanding into Germany is a significant milestone for FSN Capital and a natural step in our progression as a firm. There is a strong industrial tie and tradition between the Nordic countries and Germany, and the DACH region is full of highly successful mid-sized companies facing challenges like succession, globalization and digital transformation. As a responsible and industrially focused partner we can assist with regard to transformation and creating a shift in performance“, noted Frode Strand-Nielsen, founder and Managing Partner of FSN Capital. “In this context, the hiring of two new Partners represents a substantial investment for us and we are proud to welcome Robin and Justin to the team to lead this effort.” Patrice Jabet, Partner based in Munich at FSN Capital, added: “Robin and Justin bring significant experience and a broad network from the DACH region. Equally important, they are truly decent people who share the values and ethos of our Firm.” With these new hires, the investment team in Munich expands to five people, with a stated mid-term goal of expanding the team to ten.

Strong focus on values, high performant track record
As a responsible, values-driven investor with the ethos “we are decent people making a decent return in a decent way”, FSN Capital seeks to partner with founders, family owners and management teams to actively grow the business in which it invests. By adhering to its principle of supporting businesses to develop in a responsible and sustainable manner and through an active ownership approach, the FSN Funds have generated realized returns of 3.0x ROI and 27% IRR, making it one of the best-performing funds in Europe. FSN Capital´s and the FSN Funds’ commitment to strong environmental, social and governance principles (ESG) was also recently rewarded with the receipt of the Private Equity Corporate Citizenship Award in 2017.

“FSN Capital has a highly successful track record of partnering with founders and management teams. By investing creatively, with a focus on doing the right thing for the company and all stakeholders involved, the FSN Funds have delivered outstanding returns to investors. Since its founding, Frode has built an exceptional team with a strong moral compass, and it is a true privilege to become a part of it,” notes Robin Muerer. Supporting Robin´s view, Justin Kent notes: “I was impressed by FSN Capital’s unique culture and its commitment to building a strong local presence in the DACH market. I find the ability to generate such outstanding returns in a responsible and sustainable way to be remarkable. I am truly humbled by the opportunity to join this great team.”

About FSN Capital
FSN Capital Partners is an investment advisory firm acting exclusively on behalf of the FSN Capital Funds with €2.2 billion in committed capital. The funds make control investments in growth-oriented Northern European companies with enterprise value between €50 million and €300 million to support further growth. Established in 1999, FSN Capital has a team of 43 across Oslo, Copenhagen, Stockholm and Munich, in addition to 11 executive advisors with extensive industry experience. The FSN Funds are currently investing from “FSN Capital V” fund with a size of €1 billion. Since its inception, the FSN Funds have invested more than €1 billion in 32 platform investments and over 70 follow-on acquisitions. They have generated realized returns of 3.0x ROI and 27% IRR, making FSN Capital one of the best-performing investment advisory funds in Europe. Recently exited investments in Instalco (SWE) and Lagkagehuset (DK) represent examples of how the FSN Funds have achieved great returns by executing creative, entrepreneurial growth strategies, while investments in Netcompany (DK) and Bygghemma (SWE) are examples of the FSN Funds´ ability to partner with strong management teams to help accelerate growth in dynamic businesses.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015392018-03-15T17:17:59Z2018-03-15T17:17:59ZTimothy M. Clark has rejoined the law firm Dechert as a partner in the New York office focusing on investment funds and secondary deals. Previously, Clark was a partner at O'Melveny & Myers.]]>Timothy M. Clark has rejoined the law firm Dechert as a partner in the New York office focusing on investment funds and secondary deals. Previously, Clark was a partner at O’Melveny & Myers.

PRESS RELEASE

NEW YORK, NY – Dechert LLP is pleased to announce that Timothy M. Clark has rejoined the firm as a partner in the New York office focusing on investment funds and secondary transactions. He was previously a partner at O’Melveny & Myers. The move significantly boosts Dechert’s continuing growth in the private funds and private equity transactions space.

Dechert’s private equity practice has expanded significantly in the past year with strategic lateral hires across the globe, including in New York, London, Beijing, Hong Kong and Singapore. Dechert is recognized as a top private equity law firm by Private Equity International, Thomson Reuters, Bloomberg, The Deal and Chambers. A global team of more than 250 lawyers advises on a spectrum of funds, transactional and exit work for private equity sponsors and other private investment firms, including sovereign wealth funds and family offices and their portfolio companies, as well as institutional and corporate investors looking to invest in private equity funds.

“We are delighted to have Tim back at Dechert and are glad that our clients will benefit from his significant experience counseling across a broad range of investors and funds, as well as his extensive knowledge of financial regulations,” said Mark Thierfelder, global chair of Dechert’s corporate and securities practice and global head of private equity. “Growing one of the leading private equity fund practices remains absolutely central to Dechert’s global strategy.”

“Our global strength across the entire investment management spectrum is a continued attraction for both clients and laterals and we are thrilled to have Tim rejoin,” added Gus Black, co-chair of Dechert’s financial services practice and global head of private funds.

Mr. Clark said: “I’m glad to be back working with such an exceptional team at Dechert. The firm is making some of the biggest strides this business has seen. My clients will be well served on their most complicated funds transactions while being able to leverage Dechert’s global capabilities.”

Mr. Clark regularly provides clients with insight on the most up-to-date market trends. He is recommended by Best Lawyers in America in their Private/Hedge Fund Law category and recognized by The Legal 500 for his leading role in private equity. He was named to Who’s Who Legal 2017 in their Private Funds Formation category. Mr. Clark holds a J.D. from New York University and a B.A. from Oberlin College.

About Dechert LLP
Dechert is a leading international law firm advising on the most innovative matters with the greatest complexities and highest regulatory demands. We bring innovation, energy and solutions to deliver practical commercial insight to our clients’ most important matters.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015362018-03-15T17:14:22Z2018-03-15T17:14:21ZDrover has secured 5.5 million pounds in funding. Cherry Ventures, Partech and BP Ventures led the round.
]]>UK-based car subscription company Drover has secured 5.5 million pounds in funding. Cherry Ventures, Partech and BP Ventures led the round.

PRESS RELEASE

London – 15th March 2017: Drover, a marketplace company pioneering monthly, all-in car subscriptions in the UK, is happy to announce that it has just raised a £5.5 million funding round that was co-led by venture capital firms Cherry Ventures, Partech and BP Ventures, with continued participation from existing investors. Version One and Forward Partners previously invested £2 million in Drover’s pre-seed round, bringing the funding of the company to £7.5 million in total. The capital will be used to scale the business further and invest in its engineering and product team.

As part of the round, Christian Meermann, founding partner of Cherry Ventures, and Romain Lavault, General Partner at Partech Ventures, are joining Drover’s board of directors, alongside Boris Wertz of Version One and Drover’s founders Felix Leuschner (CEO) and Matt Varughese (CTO).

Christian Meermann, founding partner at Cherry Ventures said: “We are excited to back Drover because they are building the infrastructure and the customer experience that will change how all parties think about mobility. At Cherry, we believe that car-ownership will undergo massive changes as consumers prioritise flexibility, affordability and convenience. We are confident that the team at Drover will rapidly grow car subscription in the UK and beyond by building tech-enabled operational excellence for their supply partners while creating tremendous value for their customers.”

Drover is shaping the future of mobility by building a new type of mobility-as-a-service platform that streamlines the traditionally fragmented, and complex process of getting and maintaining a car: Drover gives users access to cars of their choice for one all-inclusive monthly subscription price, as an alternative to the rigidity of getting a car through existing car finance, or lease options. With a monthly subscription fee, Drover’s user proposition rolls the entire cost of car ownership into one price, including the cost of the car, insurance, maintenance, servicing, taxes and breakdown cover, and makes it available as an online offer on joindrover.com. Users can swap, upgrade or downgrade their car monthly or just cancel altogether, with no additional costs.

Felix Leuschner, Co-Founder and CEO commented: “Almost all innovation in the mobility space has so far focused on how to get from A to B. At Drover however, we’re rethinking car ownership itself, a space where very little innovation has happened to date. We are building an integrated end-to-end platform that looks to the future, and prioritises meeting the demands of the modern-day customer.

Simply put, Drover is designed to free consumers from the long-term commitment of a loan or lease, while providing the benefits of car ownership that are missing from existing ride- and car-sharing options.”

Moving away steep upfront payments, lengthy credit checks, and hours spent in dealership waiting rooms, Drover has designed a frictionless, fully digital transaction process. Users simply create a profile, upload a photograph of their drivers licence, browse a selection of vehicles tailored to their location and budget, personalise their subscription package based on their preferred mileage, and pick up or have their car delivered to them, as early as the next day.

Structuring its business as a marketplace means Drover does not own any cars, but works with over 100 fleet partners to ensure a large and comprehensive selection of new and used vehicles on its platform. Drover’s fleet partners include large rental companies such as Europcar, Avis Budget Group and Hertz, car dealership groups, and OEMs, such as BMW Group UK. Powered by sophisticated technology: an integrated insurance product developed in partnership with Munich Re Digital Partners and a proprietary SAAS fleet management system, Drover partners are able to list vehicle inventory with minimal overhead costs, and monetise it effectively, whilst consistently increasing vehicle utilisation.

As macro trends of the sharing economy, asset-light lifestyles and on-demand continue to progress consumer behaviours, it is Drover’s mission to provide its users with a flexible, convenient and easy way to get the car of their choice and with that, create an entirely new category in the automotive sector, one of the largest industries in the world.

About Cherry Ventures
Cherry Ventures is a Berlin-based venture capital fund, founded by entrepreneurs for entrepreneurs. The fund is managed by Filip Dames, Daniel P. Glasner and Christian Meermann and provides early-stage investment for the best ideas and teams across Europe. Cherry Ventures offers portfolio companies a platform for operational excellence, strategic know-how and fundraising support as well as a network of the most successful entrepreneurs in Europe. Cherry Ventures has invested in more than 45 companies since its launch. Auto1 Group, Flixbus, Lesara, Quandoo, Infarm and Tourradar are part of the Cherry Ventures Portfolio, among others. For more information please visit: www.cherry.vc/

About Partech
Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a team spread across offices in San Francisco, Paris, Berlin and Dakar. Most Partners have been entrepreneurs themselves or have held management positions within tech companies. The partnership acts and invests as a single team, helping entrepreneurs build fast-growing tech and digital companies addressing large markets across multiple continents. Partech Ventures partners with entrepreneurs at the seed, venture and growth stages. Companies backed by Partech Ventures have completed 21 initial public offerings and more than 50 major M&A transactions with leading international companies. Since 2012, the team has built a pioneering business development platform fostering synergies and business relationships between entrepreneurs and strategic partners. For more information please visit: www.partechventures.com

About BP Ventures
BP Ventures identifies and invests in private, high growth, game-changing technology companies, accelerating cutting edge innovations across the entire energy spectrum. Since 2006, BP Ventures has invested over $400 million in corporate venturing and has 42 active investments in its current portfolio.

BP Ventures’ portfolio is primarily focused on emerging technologies in oil and gas exploration and production and downstream conversion processes. In addition, it has a renewed strategic focus on five key areas: bio & low carbon products, carbon management, power & storage, advanced mobility and digital transformation. For more information please visit: www.bp.com/ventures

About Drover
Drover offers flexible, monthly all-in car subscriptions to its customers, allowing its users to swap, upgrade or downgrade their car monthly or just cancel altogether, without any long-term commitment or steep upfront payments. Drover provides this service through a marketplace model, providing its over 100 fleet partners with an easy to use listings and fleet management interface, allowing them to monetise available vehicles effectively on Drover’s platform. Drover was founded by serial marketplace entrepreneurs Felix Leuschner (CEO) and Matt Varughese (CTO) and launched in January 2016, has handled tens of thousands of vehicle bookings since and has been serially backed by Version One, Forward Partners, Cherry Ventures, Partech and BP Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015342018-03-15T17:11:26Z2018-03-15T17:11:26ZBaring Private Equity Asia and CITIC Capital has closed its previously announced acquisition of Wall Street English for $300 million. The seller was Pearson. WSE is an English language training network.]]>Baring Private Equity Asia and CITIC Capital has closed its previously announced acquisition of Wall Street English for $300 million. The seller was Pearson. WSE is an English language training network.

PRESS RELEASE

15 March 2018, Barcelona: Today the $300 million sale of Wall Street English (WSE) by Pearson to funds affiliated with Baring Private Equity Asia (BPEA) and CITIC Capital Holdings Limited (CITIC Capital) was closed, after all necessary regulatory approvals for the deal were granted earlier in the year.

WSE represents a unique investment opportunity for the two new owners. With over 400 centres and 180,000 students in 28 countries, WSE has a high quality and scalable platform to capture the growth of the adult English language market globally. With future investment targeting new centre opening and ongoing investment in product development, BPEA and CITIC Capital will support WSE’s expansion in existing growth markets including China and new markets globally through WSE-funded and franchise expansion.

On 27 November 2017, BPEA and CITIC Capital announced their intention to acquire WSE for $300 million. Now regulatory approval has been granted, the new owners have outlined their growth strategy for the WSE business.

The strategy includes a five-year plan that focuses capital investment into new centre openings and technology and product innovation.

David Kedwards, Global CEO of Wall Street English, said: “With the final approval of the acquisition and completion of the sale we have reached an important milestone in our new ownership structure. Both of our new shareholders have complementary backgrounds and expertise, an unrivalled track record in education investment and share our ambition for strong growth worldwide. We have a vision to leverage our platform to drive continued growth and improvement in existing and new learning experiences. This is a very exciting time for the company.”

2017 saw strong performance across the WSE business, with 22 new centres opened in eight countries and good sales growth in China and strong growth in underlying operating profit. Over the last three years WSE has strengthened its core proposition. The business is well positioned to expand globally and respond quickly to market dynamics, student needs and technological change faster than ever before.

David Kedwards added: “We estimate the English language market is valued at over $23 billion in annual revenues and growing, with two billion people globally forecast to learn English by 2020. We aim to take advantage of market opportunities with investment to drive additional growth particularly in China, South America, Japan and India.”

For more information about partnering or franchising with Wall Street please visit https://www.wallstreetenglish.com/contact or contact Lex Baker on lex.baker@wallstreetenglish.com

About WSE
Wall Street English is the world’s leading English language training network delivering English language learning to adults and is recognised as a leading blended learning platform that provides a premium lifestyle experience to its students. WSE’s success is underpinned by a strong brand, a track record of growth and innovation over its 46-year history. In 2016 the business served 180,000 learners through 70 corporate owned centres in China, nine corporate owned centres in Italy and 321 franchised centres across 28 territories.

About Baring Private Equity Asia
Baring Private Equity Asia (BPEA) is one of the largest and most established private alternative investment firms in Asia, with a total committed capital of over USD11 billion. The firm runs a pan-Asian investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions, as well as a private credit and a pan-Asian real estate private equity investment program. The firm has been investing in Asia since its formation in 1997 and has over 150 employees located across offices in Hong Kong, China, India, Indonesia, Japan and Singapore. BPEA currently has over 30 portfolio companies active across Asia with a total of 150,000 employees and sales of approximately USD28 billion in 2016.

For more information, please visit www.bpeasia.com.

About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over US$22 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 130 portfolio companies that span 11 sectors and employ over 820,000 people around the world.

CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout opportunities globally, has completed over 60 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD4.7 billion of committed capital. For more information, please visit www.citiccapital.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015312018-03-15T17:08:20Z2018-03-15T17:08:20ZMaitland, a global advisory and fund administration firm, has named Frank Ferrara as senior client service manager. Previously, Ferrara worked at Rhone Group. ]]>Maitland, a global advisory and fund administration firm, has named Frank Ferrara as senior client service manager. Previously, Ferrara worked at Rhone Group.

PRESS RELEASE

NEW YORK – March 15, 2018 – Maitland, the global advisory and fund administration firm, has announced the appointment of its newest Senior Client Service Manager, Frank Ferrara, as part of the continued expansion of its private equity fund administration services. Frank will work alongside David Dwyer, Business Development Manager – Private Equity and Ben Pershick, Head of North America Private Equity to manage a growing new business pipeline, client onboardings, and existing relationships.

Frank brings a wealth of experience in the private equity operational space. Based in New York, he will be instrumental, overseeing the service platform, data migration and relationship management for clients.

Frank Ferrara says: “Maitland’s institutional strength, combined with a unique customer-centric approach, means that we are well placed to grow our client base as private equity managers continue to outsource to third-party fund administrators. This was a key driver for joining and I look forward to combing this strength with my years of experience to help build upon their success.”

With a growing need to move away from manual processes, private equity managers are looking to solutions, such as Maitland’s automated system, to streamline financial data and gain a better-quality output, with strong control and accuracy. Ben Pershick adds, “As we continue to develop products that deliver more advanced analytics and powerful investor reporting tools, the need for strong client relationship management is critical.”

Scott Price, Head of Business Development & Client Relationship Management for North America adds: “Frank’s appointment is a direct response to Maitland’s accelerated growth to meet institutional clients’ need for on-the-ground knowledge with global solutions. His experience from the client-side of private equity will greatly enrich our product offering.”

Frank previously worked for two New York-based private equity firms, most recently Rhone Group. With over $10 billion in AUM across various asset classes he was responsible for fund and investor reporting.

Founded in Luxembourg in 1976, Maitland is privately owned with 17 offices in 12 jurisdictions, over 1,100 employees, and over $250 billion in assets under administration.

Providing independent third-party fund administration services since 1990, we expanded our operations to North America by acquiring an award-winning global fund administration firm in 2012. Leveraging the talented team of accountants and technology specialists with over 45 combined years of experience in technology integration, we have created a platform for hedge, private equity and hybrid funds.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015272018-03-15T17:05:55Z2018-03-15T17:05:55ZFoxtrot, a "next-generation corner store," has secured $6 million in Series A funding. Fifth Wall led the round with participation from Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron, M3 Ventures and The University of Chicago.
]]>Chicago-based Foxtrot, a “next-generation corner store,” has secured $6 million in Series A funding. Fifth Wall led the round with participation from Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron, M3 Ventures and The University of Chicago.

PRESS RELEASE

CHICAGO, Illinois – March 15, 2018 – Foxtrot, the next generation corner store, announced today the closing of a $6 million Series A round of financing led by Fifth Wall, the largest venture capital firm focused on the Built World. With the new funds, Foxtrot will take its successful retail model and grow the team to support the expansion of its on-demand e-commerce delivery business, and the opening of additional retail stores in Chicago later this year and national expansion in early 2019.

The future of retail is on-demand, curated products and experiences, and Foxtrot has built a loyal customer base eager for service and personalization from both its mobile app and four physical locations in Chicago. Foxtrot combines e-commerce with an in-store experience that is curated with the city’s best products – craft beer, wine, spirits, food, gifts and everyday essentials.

The partnership with Fifth Wall introduces the Foxtrot team to the largest real estate companies across commercial, retail, and residential who have come to Fifth Wall to find the next generation of companies changing the industry. The additional capital will allow Foxtrot to focus its growth on partnering with these, the largest owners and operators of real estate, to provide a curated amenity to neighborhoods and buildings – from residential to hotels to commercial landlords.

“We believe Foxtrot is paradigm of what the next generation of retail looks like. The retail shopping experience is becoming increasingly digital, but brick-and mortar retail is far from dead and is instead becoming critically important to omnichannel brands like Foxtrot – Mike and the team have combined a beautiful, elevated in-store experience with a seamless digital purchasing UX and the convenience of on-demand delivery,” said Brendan Wallace, Co-Founder and Managing Partner at Fifth Wall. “Fifth Wall is excited to partner with Foxtrot to bring the real estate expertise of our team and our partners to the Foxtrot team to scale the business in Chicago and beyond, expanding the reach of the unique experience they have created to neighborhoods and city centers across the country.” Other participants in the round with Fifth Wall include: Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron, M3 Ventures, and The University of Chicago.

“Foxtrot has read the pulse of the retail industry by blending e-commerce, on-demand delivery, and brick-and-mortar experiences,” added Ben Lerer, Managing Partner at Lerer Hippeau. “The company is addressing retail’s most pressing pain points while building a direct-to-consumer business that’s deeply resonating with its first market in Chicago.”

“Over the past few years we’ve been able to take the curated, on-demand Foxtrot experience and truly tailor it to our neighborhoods and customers here in Chicago, and are eager to do the same for communities across the country,” said Foxtrot co-founder and CEO Michael LaVitola. “We knew we needed to find the right partners to take this next step, and we’ve found that with Fifth Wall and this exceptional group – their expertise and relationships will go a long way in helping grow our team, offerings and locations in the coming year and beyond.”

Partnerships with commercial and residential landlords, put Foxtrot stores in anchor retail locations. The Foxtrot team then prioritizes products and integrations that are local – a significant portion of Foxtrot’s inventory comes from local purveyors. Examples of these partnerships include:
· Bush Temple of Music: In a historic building that has recently been brought back to life in River North, created a space that combines a coffee shop and
market, bringing this amenity to a refurbished residential building and the neighborhood.
· Jeni’s Ice Cream: In partnership with local ice cream favorite, Jeni’s, built a unique retail space at the Lincoln Park location that is a hybrid of a corner store and an ice cream shop.
· FEW Spirits & CH Distillery: Collaborations with local Chicago distillers provide unique and highly localized gifts, delivered on-demand through the Corporate Gifting Program.

Foxtrot’s fourth and newest retail store opened March 9th at 1722 W. Division St. in Chicago’s Wicker Park neighborhood. Designed by Karen Herold of Studio K, the 2,200-square-foot space features a full-service coffee bar and lounge with local beers on tap and wines by the glass.

For more information on Foxtrot please visit foxtrotco.com or download in the App Store.
###
About Foxtrot
Foxtrot is the next generation corner store – we curate your city’s best craft beer, wine, spirits, fresh eats, gifts and everyday essentials – and deliver it all to your door in 60 minutes via our neighborhood shops. With a swift mobile app and web store paired with beautifully designed retail spaces, we are building an exciting brand that is both digitally native and rooted in a highly engaging retail experience. To shop, learn more or join our team, please visit foxtrotco.com.

About Fifth Wall
Fifth Wall is the largest venture capital firm focused on innovation for the Built World. Fifth Wall is connecting the world’s largest owners and operators of real estate with the entrepreneurs and technology innovators redefining how the world interacts with its physical environment. With $265M in assets under management, Fifth Wall is backed by the largest real estate owners in the US: Macerich, CBRE, Lennar, Hines, Equity Residential, Prologis, Host Hotels, and Lowe’s Home Improvement. Fifth Wall invests in businesses from all sectors of the Built World, including retail, industrial, hospitality, multi-family, homebuilding, office, and brokerage. In addition to capital, Fifth Wall structures strategic real estate partnerships that accelerate the growth of its portfolio companies. For more information on Fifth Wall and its partners, visit https://fifthwall.vc.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015212018-03-15T16:57:30Z2018-03-15T16:57:30ZKiddom, a collaborative learning platform for teachers, has raised $15 million in Series B funding, according to a source familiar with the transaction. Owl Ventures led the round with participation from other investors that included Khosla Ventures.]]>San Francisco and New York City-based Kiddom, a collaborative learning platform for teachers, has raised $15 million in Series B funding, according to a source familiar with the transaction. Owl Ventures led the round with participation from other investors that included Khosla Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015172018-03-15T16:53:48Z2018-03-15T16:53:48ZDrake Star Partners, a technology, media and communications-focused investment bank, has named Michael Metzger as a partner in the Los Angeles office. Previously, Metzger was a senior investment banker at Houlihan Lokey’s TMT group.]]>Drake Star Partners, a technology, media and communications-focused investment bank, has named Michael Metzger as a partner in the Los Angeles office. Previously, Metzger was a senior investment banker at Houlihan Lokey’s TMT group.

This announcement follows Drake Star Partners’ recent office launch in San Francisco back in September 2017, with Mark Bradt joining as the firm’s first Partner based in the Bay Area. Michael Metzger’s appointment as a Los Angeles-based Partner further extends Drake Star Partners’ coverage in the West Coast.

Gregory Bedrosian, Managing Partner and Co-CEO at Drake Star Partners, commented: “Michael brings over 20 years of experience as an accomplished investment banker and tech executive, having worked on many industry-defining media and tech cross-border transactions.” Bedrosian continued: “A German national with an intimate knowledge of the West Coast’s local media and technology sectors, Michael’s international profile fits perfectly with Drake Star Partners’ global culture and reach. My colleagues and I are delighted to welcome Michael to the Drake Star family and I look forward to working with him.”

Michael Metzger added: “Drake Star Partners keeps going from strength to strength, displaying an impressive track-record of disruptive transactions that are set to change our world. In addition, the firm’s growing local presence in the West Coast along with its expanding global footprint make it an exciting time for me to join Drake Star Partners on its continued growth path. I look forward to leveraging my transaction experience, deep sector expertise and understanding of the global and local LA media, Internet and tech landscapes to further strengthen Drake Star Partners’ positioning as a global leader in cross-border dealmaking.”

Prior to joining Drake Star Partners, Michael was a senior investment banker at Houlihan Lokey’s TMT group based in the firm’s Los Angeles office. Previously, Michael was a Principal at MESA Global, a merchant bank and advisory firm that specialized in digital media, Internet and entertainment space. Prior to MESA, he was a Co-Founder and Principal of Internet and digital media focused Investment Bank Covert & Co based in Los Angeles. Before that, Michael held senior management, corporate development and engineering positions at AT&T, IBM, Conexant and Mindspeed.

About Drake Star Partners
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Amsterdam, Geneva and Tokyo. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 300 transactions since 2004, 70% of which are cross-border.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35015152018-03-15T16:59:12Z2018-03-15T16:51:04ZPNC Business Credit, PNC Bank's senior secured lending unit, has added three to its team. Joining PNC Business Credit as senior vice president and business development officers are Luke Tripodi and Brian Caldwell. Also, PNC Business Credit has named Jenna Shah as vice president and business development officer.]]>PNC Business Credit, PNC Bank‘s senior secured lending unit, has added three to its team. Joining PNC Business Credit as senior vice president and business development officers are Luke Tripodi and Brian Caldwell. Also, PNC Business Credit has named Jenna Shah as vice president and business development officer.

PRESS RELEASE

PNC Business Credit, the senior secured lending division of PNC Bank, N.A., announces three appointments to its senior secured financing team in the Upper Midwest and Western regions.

Luke Tripodi has been appointed senior vice president and business development officer for PNC Business Credit. Based in Chicago, he has responsibilities for private equity and direct origination in the Minnesota and Chicago markets. Tripodi joins the organization from BMO Harris Bank where he spent the last 10 years, most recently serving as vice president for BMO’s asset based lending group. He holds a bachelor’s degree in business and psychology from Illinois Wesleyan University.

Brian Caldwell, also based in Chicago, is now senior vice president and business development officer with PNC’s senior secured financing team. He is responsible for originating asset-based and cash flow loans for Chicago-based private equity firms. Caldwell joins PNC Business Credit from PNC’s corporate bank, where he served as senior vice president and senior banker responsible for new business development and relationship management for public and privately-held companies in Chicago. He holds a bachelor’s degree from Miami University of Ohio and a master’s degree from the University of Chicago Booth School of Business, with concentrations in finance and accounting.

Jenna Shah is now vice president and business development officer for PNC’s senior secured financing team. Based in Seattle, she is responsible for originating asset-based and cash flow loans with middle-market companies and private equity firms across the Pacific Northwest. A 10-year PNC veteran, Jenna most recently served as a relationship manager in Chicago for PNC Business Credit. She holds a bachelor’s degree in fine arts from Temple University, where she also completed post-graduate coursework in finance.

PNC Bank, National Association is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35015022018-03-15T16:17:49Z2018-03-15T16:17:49ZNippon Steel & Sumitomo Metal Corp (5401.T) on Thursday said it will buy Sweden’s Ovako which makes specialty steel used in industries including wind power generation and robotics, a move that gives Japan’s biggest steelmaker a manufacturing base in Europe.]]>Nippon Steel & Sumitomo Metal Corp (5401.T) on Thursday said it will buy Sweden’s Ovako which makes specialty steel used in industries including wind power generation and robotics, a move that gives Japan’s biggest steelmaker a manufacturing base in Europe.

The purchase, its second international foray announced this month, also gives Nippon Steel a sales network in Europe besides adding 780,000 tonnes of annual output to the Japanese company’s roughly 45 million tonnes.

Nippon Steel said on March 2 that it would boost investment, including mergers and acquisitions to 600 billion yen over the next three years to expand overseas.

On the same day, it said it would join ArcelorMittal SA (MT.AS), the world’s largest steelmaker, to bid for Essar Steel India Ltd, which was placed in bankruptcy court last year.

Terms will not be disclosed for the takeover of Ovako, which is owned by Triton, an investment management firm that focuses on medium-sized European companies.

The purchase will “strengthen and expand our global business and further strengthen our technology, product quality and product development capability for special steel (while) securing a base of manufacture and sales in Europe,” Nippon Steel said in a statement.

Ovako, which started producing steel in the 17th century, had sales of 921 million euros ($1.14 billion) and assets of 743 million euros in 2017, Nippon Steel said. The Japanese company is forecasting 5.7 trillion yen ($54 billion) in sales in the year through March.

Nippon Steel also said on Thursday it had started talks with Sanyo Special Steel Co (5481.T) to increase its stake in the smaller Japanese company from 14.5 percent to more than 51 percent and make it a subsidiary.

However, the method for increasing the stake and final terms have not been decided. Raising its holding to at least 51 percent by buying shares from the market would cost Nippon Steel about 29 billion yen.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35015002018-03-15T16:15:31Z2018-03-15T16:15:31ZHelios Towers on Thursday pulled its plans to list in London, with one banker saying the expected IPO price was too low for shareholders who had been valuing the firm at as much as 2 billion pounds ($2.8 billion), Reuters reported. ]]>African mobile phone mast firm Helios Towers on Thursday pulled its plans to list in London, with one banker saying the expected IPO price was too low for shareholders who had been valuing the firm at as much as 2 billion pounds ($2.8 billion).

Helios, which operates phone masts in Ghana, Congo Republic, Democratic Republic of Congo and Tanzania, said it had received “considerable interest” from institutional investors who liked its business plan and growth prospects.

However, without giving reasons, it said shareholders had decided to withdraw from the listing, which had been scheduled for next month.

The banker involved on the deal said investors were worried about the political and policy risks in Democratic Republic of Congo (DRC) and Tanzania.

“The valuation from market feedback was not enough for the shareholders. We had a lot of interest from investors but they wanted a discount for the political risk in DRC and Tanzania,” the banker, who asked not to be named, said.

Millions died in a 1998-2003 civil war in Democratic Republic of Congo, and a deepening crisis over President Joseph Kabila, who was meant to leave office in 2016, is raising fears of the vast nation of 75 million people imploding once again.

Last month, the front cover of the influential Economist magazine carried a picture of heavily armed Congolese soldiers walking down a road below the headline “Heading back to hell”.

Tanzania, by contrast, is politically stable but President John Magufuli, nicknamed the ‘Bulldozer’ for his style, has put off foreign investors with his heavy-handed attacks on the mining sector as part of an anti-corruption drive.

Helios is owned by telecom firms Millicom and Bharti Airtel and hedge funds including Albright Capital Management and Soros Fund Management, which owns more than 20 percent.

Helios was formed in December 2009 and owns around 6,600 towers in Ghana, Tanzania and Democratic Republic of Congo.

On March 2 it said it was targeting an IPO on the main market of the London Stock Exchange in early April.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014982018-03-15T16:12:28Z2018-03-15T16:12:28ZArcus Biosciences, a developer of cancer immunotherapies, has raised $120 million for its IPO after pricing its 8 million shares at $15 per share. The stock began trading March 15, 2018 on the New York Stock Exchange under the ticker symbol "RCUS." Citigroup, Goldman Sachs and Leerink Partners are the lead underwriters. The investors included Taiho Ventures, GV, Invus, DROIA Oncology Ventures, Stanford University, The Column Group, Foresite Capital, Novartis and Celgene.]]>Hayward, California-based Arcus Biosciences, a developer of cancer immunotherapies, has raised $120 million for its IPO after pricing its 8 million shares at $15 per share. The stock began trading March 15, 2018 on the New York Stock Exchange under the ticker symbol “RCUS.” Citigroup, Goldman Sachs and Leerink Partners are the lead underwriters. The investors included Taiho Ventures, GV, Invus, DROIA Oncology Ventures, Stanford University, The Column Group, Foresite Capital, Novartis and Celgene.

PRESS RELEASE

HAYWARD, Calif.–(BUSINESS WIRE)–Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical company focused on creating innovative cancer immunotherapies, today announced the pricing of its initial public offering of 8,000,000 shares of common stock at a price to the public of $15.00 per share for total gross proceeds of $120,000,000. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,200,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares are expected to begin trading on the New York Stock Exchange on March 15, 2018 under the symbol “RCUS”. The offering is expected to close on March 19, 2018, subject to customary closing conditions.

The offering is made only by means of a prospectus. When available, a copy of the final prospectus related to this offering may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, by fax at 212-902-9316 or by email at prospectusgroup-ny@ny.email.gs.com; or Leerink Partners, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132, or by email at syndicate@leerink.com.

A registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission (“SEC”). Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.

About Arcus Biosciences
Arcus Biosciences (“Arcus”) is a clinical-stage biopharmaceutical company focused on creating innovative cancer immunotherapies. Arcus was founded in 2015 by Terry Rosen and Juan Jaen, the co-founders of Flexus Biosciences, which was acquired by Bristol-Myers Squibb in 2015 to access Flexus’s IDO inhibitor, which was in preclinical development at the time and is now referred to as BMS-986205. Arcus has several programs targeting important immuno-oncology pathways, including a dual adenosine receptor antagonist and an anti-PD-1 antibody, both of which are in Phase 1 trials, as well as a small molecule inhibitor of CD73 and an anti-TIGIT antibody, which are in IND-enabling studies. Arcus has extensive in-house expertise in medicinal chemistry, immunology, biochemistry, pharmacology, and structural biology. The company is based in Hayward, CA.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35014942018-03-15T16:06:41Z2018-03-15T16:06:41ZApax Partners has clinched a deal to buy a majority stake in Italian consultancy Business Integration Partners (BIP) for more than 200 million euros ($248 million), a source told Reuters.]]>French private equity fund Apax Partners has clinched a deal to buy a majority stake in Italian consultancy Business Integration Partners (BIP) for more than 200 million euros ($248 million), a source familiar with the matter told Reuters.

Founded in 2003, Milan-based BIP provides management consulting and business integration services and has been backed by European buyout fund Argos Soditic since 2014.

Argos has now decided to sell its stake, the source said.

BIP’s three co-founders will retain a minority stake in the company and will continue leading its global rollout, the source said.

BIP operates in 11 countries and employs more than 1,800 people.

The business has been growing steadily through a series of acquisitions, including the 2015 purchase of Italian consultant OpenKnowledge.

Paris-based Apax is expected to continue expanding BIP through possible bolt-on deals in a bid to boost its market share and geographical footprint, the source said.

Apax specialises in small and mid-market deals in telecommunications and media, consumer, healthcare and business services. It was not immediately available for comment.

Apax was advised by Italian boutique Fineurop Soditic while BIP’s shareholders were assisted by Equita Sim.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014922018-03-15T16:04:34Z2018-03-15T16:04:34ZFigo Pet Insurance has secured $4 million in funding. The investor was HCS Capital Partners.]]>Chicago-based Figo Pet Insurance has secured $4 million in funding. The investor was HCS Capital Partners.

PRESS RELEASE

MIAMI–(BUSINESS WIRE)–HCS Capital Partners (“HCS”) a Miami based Private Equity and operating firm, announced today it has completed a $4mm investment in FIGO Pet Insurance. This InsurTech investment marks the most recent for HCS, as they continue to deploy capital from their Tech Fund 1, into InsurTech, FinTech and HealthTech opportunities in the U.S. and South America.

About Figo Pet Insurance
FIGO is a Chicago-based InsurTech company founded in 2015. They offer a unique combination of comprehensive insurance policies to protect your pet in the event of injury or illness; as well as an industry-leading Pet Cloud. They have become one of the fastest growing startups in the country, growing 240% last year alone. FIGO utilizes a highly engaging and mobile-friendly Pet Cloud that allows consumers to socially engage with fellow pet owners, find grooming and boarding locations, and discover other services within the pet ecosystem. They will soon be offering their Pet Cloud platform for free. They provide simple, comprehensive, and transparent policies with an award-winning customer service staff, and are widely regarded as one of the leading pet insurance companies.

The pet insurance market in the US has nearly 1 Billion USD in annual revenue and is growing annually at 10% YoY. Widely viewed as one of the most disruptive industries, pet insurance is primed for continued growth and is expected to nearly double by 2023. FIGO CEO Rusty Sproat said recently, “Capitalizing on our current momentum, this investment and partnership will empower us to grow our business and continue to innovate our plans and technology.”

HCS Capital CEO, Alex Horvitz stated, “We were very impressed by FIGO’s achievements, their vision and their ability to transform a low-touch low-tech product like pet insurance into a high tech ecosystem, with a superb digital experience. We are very excited about this investment and are convinced that the partnership with FIGO will allow us to support them in becoming the first fully digital and truly global Pet Insurance firm.”

About HCS Capital
HCS Capital Partners is a Miami based global Private Equity and operating firm. They specialize in identifying unique opportunities within established markets and take active roles in the investment by leveraging over 15 years of deep industry knowledge and transformation management experience. They take majority and minority positions in companies located in the U.S. and Latin America, who operate technology enabled platforms in Insurance, Financial Services and Healthcare. They own and utilize unique machine learning and analytics assets including Portendo, which are often used to create differentiating value for their portfolio companies. HCS closed a $10mm round of fundraising for its Tech Fund I in late 2017 and will begin raising Tech Fund II in Q3 2018.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014902018-03-15T16:02:00Z2018-03-15T16:02:00ZBioLumic, a creator of an ultraviolet crop yield enhancement system, has secured $5 million in Series A financing. Finistere Ventures and Radicle Growth led the round.]]>New Zealand-based BioLumic, a creator of an ultraviolet crop yield enhancement system, has secured $5 million in Series A financing. Finistere Ventures and Radicle Growth led the round.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014872018-03-15T16:00:25Z2018-03-15T16:00:25ZFazua, a drive system provider for bike manufacturers, has raised $8 million in funding. UVC Partners led the round with participation other investors that included High-Tech Gründerfonds and Bayern Kapital.]]>Munich, Germany-based Fazua, a drive system provider for bike manufacturers, has raised $8 million in funding. UVC Partners led the round with participation other investors that included High-Tech Gründerfonds and Bayern Kapital.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014842018-03-15T17:36:59Z2018-03-15T15:57:56ZPilot.com Inc, a provider for bookkeeping services for startups and other small businesses, has raised $15 million in Series A financing. The investors included Index Ventures.]]>San Francisco-based Pilot.com Inc, a provider for bookkeeping services for startups and other small businesses, has raised $15 million in Series A financing. The investors included Index Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014832018-03-15T15:56:00Z2018-03-15T15:56:00ZFortem Technologies Inc, a provider of airspace awareness and intelligence, has secured $15 million in Series A funding. Data Collective led the round with participation from Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.
]]>Salt Lake City-based Fortem Technologies Inc, a provider of airspace awareness and intelligence, has secured $15 million in Series A funding. Data Collective led the round with participation from Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35014762018-03-15T15:17:31Z2018-03-15T15:17:31ZAlibaba Group Holding Ltd (BABA.N) is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, sources told Reuters.]]>E-commerce giant Alibaba Group Holding Ltd (BABA.N) is working on a plan to list on a stock exchange in its home country, China, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Alibaba is evaluating ways in which its shares could be traded by investors on the mainland, the newspaper reported on.wsj.com/2peqrpb, adding that a secondary listing in China could happen as soon as this summer if the country’s securities rules are changed to allow listings of foreign companies.

The news of a probable listing comes a few weeks after it was reported that China may allow its offshore-listed tech giants to sell a form of shares on the mainland.

Alibaba, which is listed on the New York Stock Exchange, is one of the world’s biggest tech companies listed offshore. Others include Baidu Inc (BIDU.O), JD.com Inc (JD.O) and Tencent Holdings Ltd (0700.HK).

Alibaba did not immediately respond to a request for comment.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014732018-03-15T15:13:36Z2018-03-15T15:13:36ZFidante Partners has acquired a minority stake in New York City-based Latigo Partners, a fund manager focused on event-driven investing. No financial terms were disclosed.
]]>Fidante Partners has acquired a minority stake in New York City-based Latigo Partners, a fund manager focused on event-driven investing. No financial terms were disclosed.

PRESS RELEASE

London and New York, 15 March 2018 – Fidante Partners, an international investment management business, and Latigo Partners, L.P., a fund manager specializing in eventdriven investing, announced today that Fidante has acquired a minority stake in Latigo. As part of the transaction, the Life division of Fidante’s parent company, Challenger Limited, has made an investment in Latigo’s funds.

Founded in 2005 by David Ford and David Sabath, Latigo has focused on building a unique offering in event-driven investing. Latigo’s strategies include distressed securities, special situations and long/short credit and equity investing.

Fidante’s specialist distribution and business development expertise will provide Latigo with access to well-suited, long-term global institutional investors including sovereign wealth funds, national pensions and superannuation funds.

Cathy Hales, Global Head, Fidante Partners, commented:
“Latigo’s event-driven investment strategy is highly relevant in today’s investment climate. We are excited by the opportunity to partner with a high-quality team and bring their active investment management skills to the attention of institutional investors in the UK and Europe, in addition to other key markets such as Australia and Japan.

We believe we have found in Latigo a very positive business culture fit with the Fidante team. We admire Latigo’s focus on delivering investment results to their clients and their passion for their investment craft.

This investment and partnership with Latigo is part of Fidante Partners’ global growth plans. We are always striving to offer our clients access to innovative strategies from best of breed boutique managers around the world.”

David Ford, Co-founder of Latigo, added:
“This strategic partnership with Fidante and long-term investment from Challenger allow us to better focus on what we do best – identifying needle-in-a-haystack investment opportunities. Additionally, access to Fidante’s distribution and business development capabilities will help expand our reach to a global base of investors.”

David Sabath, Co-founder of Latigo, said:
“Fidante is a great cultural match for Latigo and we look forward to partnering with them as we position the firm for our next phase of growth.”

ABOUT FIDANTE
Fidante Partners is an international investment management business that partners with specialist asset management firms to deliver compelling opportunities to an international investor base. As a multi-boutique investment firm Fidante builds successful alliances with equity, fixed income and alternative investment managers. The Fidante business model frees investment decision-makers to focus on what they do best: manage client portfolios.

Attracting new international managers is part of Fidante Partners’ expansion plans, both in Europe and the US. The Fidante Partners business model is to take minority stakes in separately branded specialist fund managers; providing the distribution, administration and business support; allowing the managers to focus solely on managing their portfolios. This strong investor alignment is driving superior long-term investment performance.

Fidante has offices in Sydney, London, Stockholm and New York and has A$56 billion in funds under management.1 It is fully owned by Challenger Limited, an ASX-listed investment management firm and regulated life insurer with A$77 billion in assets under management.2

ABOUT LATIGO PARTNERS
Founded in 2005, Latigo Partners is a fund manager that specializes in event-driven investing. The firm’s strategies include distressed securities, special situations and long/short credit and equity investing.

The team conducts in-depth fundamental research to identify securities that they believe contain the most attractive risk/reward relationship in highly-levered capital structures.

They seek to produce attractive risk-adjusted returns while placing a strong emphasis on capital preservation.

Latigo was founded by co-portfolio managers David Ford and David Sabath, each of whom has over 20 years of experience in event-driven investing.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014702018-03-15T15:08:58Z2018-03-15T15:08:58ZAirtable, a platform that enables anyone to build custom apps to support their businesses, has raised $52 million in Series B funding. CRV and Caffeinated Capital led the round with participation from Freestyle Capital and Slow Ventures.]]>San Francisco-based Airtable, a platform that enables anyone to build custom apps to support their businesses, has raised $52 million in Series B funding. CRV and Caffeinated Capital led the round with participation from Freestyle Capital and Slow Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014662018-03-15T15:06:44Z2018-03-15T15:06:44ZYFM Equity Partners has invested UK-based Ncam, a provider of augmented reality solutions for the entertainment industries. No financial terms were disclosed.
]]>YFM Equity Partners has invested UK-based Ncam, a provider of augmented reality solutions for the entertainment industries. No financial terms were disclosed.

PRESS RELEASE

15 March 2018: Funds advised and managed by YFM Equity Partners (“YFM”), the specialist private equity fund manager have backed an investment into Ncam Technologies Limited, a provider of innovative and leading Augmented Reality solutions for the entertainment industries.

YFM’s investment comes from its two advised VCTs, British Smaller Companies VCT plc and British Smaller Companies VCT2 plc alongside the YFM Equity Partners 2015 Co-Investment LP.
Ncam was founded in 2012 by Nic Hatch (CEO), Sam Boivin (CTO) and Brice Michoud (Senior R&D Engineer) to develop a unique augmented reality solution which combines patented camera tracking hardware that fuses data from multiple sources with proprietary software to adapt the application to its target markets. The device uses a lightweight sensor bar attached to a camera to track natural features in the environment, allowing the camera to move freely in all locations while generating a continuous stream of extremely precise positional and rotational information that can feed all industry standard graphics engines via Ncam’s powerful and flexible software development kit.

Ncam’s award winning products are utilised globally across Broadcast, Film and Episodic TV production. Customers and users include Fantastic Beasts (Warner Bros), UEFA Champions League (BT Sport), NFC Championship Game (Fox Sports), Game of Thrones Season 8 (HBO), Monday Night Football (ESPN), Super Bowl XLVIII (Fox Sports), Avengers: Age of Ultron (Marvel), Daytona (Fox Sports), and Jupiter Ascending (Warner Bros). In recent years Ncam has been awarded an Emmy Award for Outstanding Achievement in Engineering Development, Experience & Technology Awards for Best use of Augmented Reality with Ford Motor Company and a Queen’s Award for Innovation for their work in augmented reality for film and television.

YFM’s funds will be used to support the development of new products, invest in the team, and help the business extend its reach into new territories, especially the USA where a new office opening is planned for 2018.

Charlie Robinson and Colin Granger led the Investment for YFM, with Charlie Robinson joining the Board.

Charlie Robinson, Investment Director at YFM, commented:
“Nic and his team have done a fantastic job in developing Ncam’s camera tracking technology from a standing start to a leading position in a rapidly developing Augmented Reality marketplace. There are exciting times ahead!”

Colin Granger, Investment Director at YFM, commented:
“We are delighted to be working with Ncam to support the future development of their products and their expansion into new global markets, two areas where we at YFM have significant experience of supporting.”

Nic Hatch, Co-Founder and CEO of Ncam, added:
“Our vision is to set a precedent of what can be achieved within real-time visual effects. Our relationship with YFM will allow us to expand our technological capabilities’ and keep Ncam at the forefront of augmented reality.”

Craig Deacon, CFO of Ncam, added:
“With the support of YFM we can rapidly execute our growth plans, allowing us to develop our market potential and fulfil our global ambitions of becoming a market leader of augmented reality.”

YFM’s legal advice was provided by Chris Reed of Gateley plc, Commercial Due Diligence by Geoff Rampton and Suzy Urch of RPL, Financial Due Diligence carried out by Paul Read of HMT, and organisational due diligence by Anna Cornwallis from Stratton HR. Brian Snelling and Marcus Allchurch from Acuity Advisors LLP acted as lead financial advisers to Ncam with support from Penny Garden and Harry Pearson from Field Seymour Parkes LLP.

About YFM Equity Partners
YFM Equity Partners are specialist, independently owned, private equity investors. With over 30 years of experience we seek to unlock value and growth potential by providing up to £10 million of equity to fuel the development of established business throughout the UK regions. We do this by helping our portfolio companies grow niche businesses, launch new initiatives, make transformative acquisitions and upgrade technologies and systems. Through our offices in Leeds, London, Manchester, Birmingham and Sheffield, we are dedicated to working alongside management teams to create long-term value for our investors, the companies we invest in and a positive economic impact for the communities in which we work. We manage and advise funds in excess of £200 million which include venture capital trusts and private equity funds.

YFM Equity Partners conducts its investment business through its subsidiary YFM Private Equity Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 122120).
For more information, please visit www.yfmep.com or follow us on Twitter @YFMEP.

About Ncam
Ncam offers a complete and customizable augmented reality platform that captures photorealistic virtual elements in real-time. At its core is a unique camera tracking solution that offers film & TV productions virtual and augmented graphic technology without limits. The device uses a lightweight sensor bar attached to a camera to track natural features in the environment, allowing the camera to move freely in all locations while generating a continuous stream of extremely precise positional and rotational information that can feed all industry standard graphics engines via Ncam’s powerful and flexible SDK.

Our multi-award winning patented technology integrates seamlessly to any production, capable of adapting to a wide range of applications from indoor and outdoor use to mounted or even hand-held camera configurations. Through versatile real-time application and previsualisation of graphics, Ncam creates technological efficiencies that streamline the on-set production process, saving notable post-production time and incremental costs.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014642018-03-15T15:05:05Z2018-03-15T15:05:05ZBlue Vision Labs, a collaborative augmented reality company, has secured $14.5 million in Series A funding. GV led the round with participation from other investors that included Accel, Horizons Ventures and SV Angel.]]>Blue Vision Labs, a collaborative augmented reality company, has secured $14.5 million in Series A funding. GV led the round with participation from other investors that included Accel, Horizons Ventures and SV Angel.

PRESS RELEASE

London, UK (15th March 2018) — Blue Vision Labs, a collaborative Augmented Reality (AR) company, today announces that it has emerged from stealth and raised $14.5 million in Series A funding led by GV (formerly Google Ventures), with participation from existing investors Accel, Horizons Ventures, SV Angel and others. To date, the company has raised $17 million, following an earlier seed investment.

AR has reached hundreds of millions of people via mobile AR applications, but its potential so far has been limited. Current AR apps enable only single-user experiences, in which one user can interact with AR content on their phone or headset, but multiple users cannot interact and share the same AR experience together. This is because the connecting component – a shared AR cloud – has been missing.

Blue Vision Labs has developed cloud-based computer vision technology that overcomes this fundamental limitation, and in doing so has become the first company ever to enable shared AR experiences that show multiple users the same thing across their devices. By providing self-updating 3D maps of entire cities, the system can pinpoint a phone’s position with centimetre accuracy based only on the visual information from its camera. This technology allows developers to create city-scale, shared and persistent AR experiences for the very first time.

Developers can now download the easy-to-use Software Development Kit (SDK) for iOS and Android and build previously impossible multi-user AR experiences. Users can interact with each other in AR, store and overlay AR content on top of the physical world around them, show AR navigation arrows leading them to their destination, place digital AR comments, pictures, or video for others to see, and build shared and collaborative AR games. What’s more, since this new grade of technology is available on existing smartphones, it can be experienced at larger scale and lower cost than by using a dedicated AR headset.

This new technology has potential beyond AR. Blue Vision Labs’ always-updated maps serve as a digital copy of the real world which could be used to make robots and self-driving cars safer, more capable, and faster to bring to market.

Initially conceived in 2011 by Peter Ondruska, Lukas Platinsky, Hugo Grimmett, Andrej Pancik and Bryan Baum, Blue Vision Labs was formed out of Oxford, England. Its founders looked to enable the creation of city-scale collaborative AR experiences. In the past two years, the team has grown from five to 25, with team members comprising top AR academics, industry experts, and accomplished entrepreneurs and engineers. Two of the founders sold their last company for over $100 million. The now London-based company is starting to offer an early-access program to developers looking to build AR experiences in a number of cities including London, San Francisco and New York City, with the service expanding to new areas later this year.

Peter Ondruska, CEO and co-founder of Blue Vision Labs, said:
“The ability to create shared, persistent AR applications has long been the missing piece in an industry that’s estimated to be worth $83bn by 2021*. The concept for Blue Vision has been seven years in the making, and our launch is a pivotal moment for the future of augmented reality. We’re only just scratching the surface of what our technology could bring to countless industries and sectors, from gaming to self-driving car navigation, and today’s investment brings us closer to realising that potential.”

Blue Vision Labs will be using today’s investment for hiring, product development, and expansion. The company is actively recruiting engineers, researchers, and product experts, as well as building out its field operation teams in cities around the world.

As part of the investment, Tom Hulme, General Partner at GV, will be joining the board. He said:
“We are excited to invest in one of the best technical teams in London; a team that has a working product that can localise, persist and share in real time with a single smartphone lens. We look forward to seeing all of the new applications in augmented reality and autonomous vehicles that this unlocks.“

Bridger Capital Partners today announced it has acquired Old Mill Brick, Incorporated (“Old Mill Brick”) based in Bluffdale, Utah.

Founded in 2007, Old Mill Brick owns and distributes several patented, easy to install, thin brick web and panel systems that can be used with any thin brick, including tumbled and cast. The company’s flagship product “BrickWeb” is sold online and through major retail home improvement stores across North America. The company’s thin brick systems are used for both residential and commercial building applications.

Old Mill Brick was founded and owned by Garrick Hunsaker, who will continue to lead the company as the CEO and a shareholder. “Partnering with Bridger Capital Partners is major step forward in helping us fuel our growth and expansion in the building products market,” said Garrick Hunsaker, Owner and CEO of Old Mill Brick, Incorporated. http://www.oldmillbrick.com

“Garrick has created a great company that started many years ago with an idea that led to the creation of market disruptive products. The company is growing rapidly into a national contender in the building products market,” said Greg Peterson, Managing Partner of Bridger Capital Partners.

Bridger partnered with both Bridge Bank and Assurance Mezzanine Fund to round out the transaction. Bridge Bank provided a revolving credit facility and Assurance contributed both mezzanine debt and co-invest equity to the transaction. “We are excited about partnering with Bridger Capital Partners and Garrick to help take Old Mill Brick to the next level. This company has a very bright future ahead,” said David Ellis, Director for Assurance Mezzanine Fund.

About Assurance Mezzanine Fund
Assurance Mezzanine Fund is a private investment firm located in Orlando, FL providing $3 to $20 million customized growth capital solutions to profitable, lower-middle-market companies nationwide. We look to invest our funds in established companies operated by experienced and proven management teams with a history of building enterprise value. Assurance Mezzanine Fund was created by former industry executives and experienced investors who place a high value on their relationships with management teams. Our goal is to help companies grow not only by supplying capital, but also by offering business owners our experience and network contacts obtained while operating our own businesses. For more information, visit http://www.assurancemezz.com.

About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance ranks #2 on the Forbes 2018 “Best Banks in America” list. For more information, visit http://www.bridgebank.com.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014572018-03-15T14:59:20Z2018-03-15T14:59:20ZPieSync, a Belgian intelligent data synchronization platform for organizations, has raised $3.5 million in funding. Fortino Capital led the round with participation from other investors that included Ark Angels Activator Fund, PMV and Dirk Vermunicht.]]>PieSync, a Belgian intelligent data synchronization platform for organizations, has raised $3.5 million in funding. Fortino Capital led the round with participation from other investors that included Ark Angels Activator Fund, PMV and Dirk Vermunicht.

PRESS RELEASE

GHENT, Belgium, March 15, 2018 /PRNewswire/ – Fortino Capital leads a 2.8 million euros ($3.5 million USD) round in the Ghent headquartered company PieSync through its venture fund. Fortino Capital led the round with participation from existing investors including Ark Angels Activator Fund, PMV and Dirk Vermunicht.The PieSync intelligent synchronization platform is an integrated software-as-a-service cloud application to manage contact information. It provides two-way real time synchronization of contact data between the various cloud applications used.

Today, both multinationals and SMEs use a combination of various (often specialized) cloud applications. One of the biggest challenges for companies is to integrate these applications and manage their data as simply and affordably as possible. Most integration applications only “push” data one way, from one application to the other. PieSync ensures that businesses always have access to their most recent contact data, across every application.

Duco Sickinghe, Managing Partner at Fortino Capital: “PieSync fills the gap in the market for two-way real time synchronization of contact data in a simple and affordable way. The platform now works successfully with more than 100 different applications, with new ones being added every week. We want our investment to support that continued growth.” The investment of 2.8 million euros is aimed at helping PieSync expand commercially, through increased growth in sales and marketing and by strengthening its management team.

PieSync currently synchronizes more than 100 different SaaS applications including Google Contacts, Hubspot, Marketo, Salesforce, Teamleader and specialized applications such as accounting programs. The platform automatically detects possible conflicts in contact data and matches and duplicates data in a clever way. Hence, integrating PieSync in an application landscape eliminates the data gaps between sales, marketing and customer services, and allows more efficient and productive cross-department data management.

“We’re focused on becoming the best solution to help organizations of all sizes to intelligently connect cloud-based business apps without complexity,” said Ewout Meyns, Founder and CEO of PieSync. “The partnership with Fortino Capital is an important step forward in executing our vision to become the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. ”

PieSync was founded in 2014 by entrepreneurs Ewout Meyns and Mattias Putman in Ghent. Since then, it has grown into a world-renowned player in SaaS. Fifty percent of its customers are American companies.

About Fortino Capital Partners
The investment firm Fortino Capital was founded in 2013 and is managed by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital uses its first venture fund to invest in start-ups with a focus on technology, e-commerce and digital transformation. A second investment fund, Fortino Capital II Growth, was launched at the end of 2017. This 200 million euro fund aims at investing in scale-ups and growth businesses in Benelux. Fortino is using this second fund to extend its investments to larger and more traditional businesses willing to accelerate growth through digitization. Fortino Capital reinforces capital, as well as providing expertise and experience in terms of innovation, strategy and growth. Fortino Capital’s investment portfolio includes Bloomon, Teamleader, Aproplan, TrendMiner and MobileXpense, among others.
Website:www.fortino.be

About PieSync
PieSync is the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. PieSync improves sales, marketing and service performance by easily and affordably connecting contact data without complexity across SaaS-based ecosystems and applications to guarantee relevance and reliability, every time. PieSync connects over 100 applications with new ones added every week and supports customers with greater than 20 employees across many industries. The company was founded in 2014 with the active support of start-up accelerator imec and in 2016 received 1.5 million Euro ($1.6 million USD) in funding from current investors Ark Angels Activator Fundand PMV. PieSync is headquartered in Ghent, Belgium and actively hiring new talent to join their growing team.
Website:www.piesync.com

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014532018-03-15T14:50:37Z2018-03-15T14:50:37ZHazel Technologies Inc, an agricultural technology company, has secured $3.26 million in Series A funding. The lead investor was S2G Ventures.]]>Chicago-based Hazel Technologies Inc, an agricultural technology company, has secured $3.26 million in Series A funding. The lead investor was S2G Ventures.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014502018-03-15T14:47:59Z2018-03-15T14:47:59ZSeamlessDocs, an eSig and form automation platform that specializes in working with governments to help them digitize their PDF and form processes, has raised $7.5 million in funding. SJF Ventures led the round with participation from other investors that included Motorola Solutions, Entrepreneur Roundtable Accelerator, NY State Innovation Ventures and CapRock.]]>SeamlessDocs, an eSig and form automation platform that specializes in working with governments to help them digitize their PDF and form processes, has raised $7.5 million in funding. SJF Ventures led the round with participation from other investors that included Motorola Solutions, Entrepreneur Roundtable Accelerator, NY State Innovation Ventures and CapRock.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014492018-03-15T14:45:38Z2018-03-15T14:45:38ZWalker & Dunlop, a commercial real estate services and finance company, has agreed to acquire Denver-based JCR Capital, a provider of capital solutions to commercial real estate sponsors in the U.S. No financial terms were disclosed.]]>Bethesda, Maryland-based Walker & Dunlop, a commercial real estate services and finance company, has agreed to acquire Denver-based JCR Capital, a provider of capital solutions to commercial real estate sponsors in the U.S. No financial terms were disclosed.

PRESS RELEASE

BETHESDA, Md., March 14, 2018 /PRNewswire/ — Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today that it has agreed to acquire JCR Capital (“JCR”), a Denver-based alternative investment manager that provides capital solutions to commercial real estate sponsors throughout the United States. With over $800 million in assets under management, JCR has a strong track record investing institutional capital in commercial real estate including joint venture equity, preferred equity, mezzanine debt, and transitional first-trust loans.

Walker & Dunlop Chairman and CEO, Willy Walker, commented, “The acquisition of JCR, a registered investment advisor with an established asset base and track record, is an important step towards our goal of building an $8 to $10 billion asset management business at Walker & Dunlop by 2020. JCR’s reputation, investor base, and growth-oriented culture fit extremely well with Walker & Dunlop. We are excited to welcome Jay Rollins, Maren Steinberg, and the entire JCR team to Walker & Dunlop and expand the products and services we currently provide to our customers across the United States.”

The acquisition of JCR will bring Walker & Dunlop’s total assets under management to over $1 billion, inclusive of the Company’s portfolio of multifamily bridge loans through its joint venture with Blackstone Mortgage Trust. Walker & Dunlop expects the all-cash transaction to close in the second quarter of 2018. The transaction is subject to customary closing conditions, including obtaining applicable consents from existing investors in JCR funds.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014422018-03-15T14:43:12Z2018-03-15T14:43:12ZGreenhill & Co Inc, an investment bank, has named Adam Troso as a managing director and head of real estate corporate advisory for North America. Previously, he worked at JP Morgan where he was most recently a managing director in the real estate investment banking group.]]>Greenhill & Co Inc, an investment bank, has named Adam Troso as a managing director and head of real estate corporate advisory for North America. Previously, he worked at JP Morgan where he was most recently a managing director in the real estate investment banking group.

PRESS RELEASE

NEW YORK, March 14, 2018 /PRNewswire/ — Greenhill & Co., Inc. (NYSE: GHL), a leading independent investment bank, announced today that Adam Troso will join the Firm in New York as a Managing Director and Head of Real Estate Corporate Advisory for North America.

Mr. Troso has more than 20 years of real estate related experience. He was most recently a Managing Director in the Real Estate investment banking group at J.P.Morgan, where he spent more than 11 years. During his time there he advised companies in numerous REIT sectors on both M&A and capital markets transactions. Prior to his time at J.P. Morgan he was at Bear, Stearns & Co., where he provided investment banking services to real estate, gaming and lodging clients.

Scott L. Bok, Chief Executive Officer of Greenhill, said, “We are pleased to bring Adam into our Firm to lead our North American corporate advisory effort for the real estate sector. We expect he will build on our long history of corporate advisory work in the real estate sector, as well as our strong franchise in raising private capital for real estate private equity funds, joint ventures and projects. This move is part of a larger initiative to broaden and deepen our industry sector coverage in a number of key areas, particularly in the North American market.”

Greenhill & Co., Inc. is a leading independent investment bank entirely focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments globally. It acts for clients located throughout the world from its offices in New York, Chicago, Dallas, Frankfurt, Hong Kong, Houston, London, Madrid, Melbourne, San Francisco, São Paulo, Stockholm, Sydney, Tokyo and Toronto.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014392018-03-15T14:34:43Z2018-03-15T14:34:43ZVirtuos, a game developer, has raised $15 million in funding. The lead investor was 3D Capital Partners.]]>Virtuos, a game developer, has raised $15 million in funding. The lead investor was 3D Capital Partners.

PRESS RELEASE

SINGAPORE, March 14, 2018 /PRNewswire/ — Virtuos, a leading video game content production company specializing in game development and AAA “Triple A” 3D art production for console and mobile titles, has announced the successful completion of a USD 15 million funding round, plus the set-up of a new headquarters and R&D center in Singapore.

Virtuos’ capital increase was led by new investor 3D Capital Partners, a JV partnership between French investment holding Enthéos and Hong-Kong-based Leitmotiv Private Equity. Gilles Langourieux remains the majority owner of the company, with the balance shared between Virtuos’ managers, 3D Capital Partners and long term investor Xuhui Venture Capital.

“The video game development industry is maturing and so is Virtuos. Today we can handle the increasingly complex in-game experience demanded by players on a growing and increasingly powerful range of platforms,” said Gilles Langourieux, CEO of Virtuos. “The company’s new structure, expanded funding, and R&D center in Singapore will ensure that we stay at the forefront of game technology innovation and continue to be the ideal partner for studios that are developing blockbuster games.”

Combined with additional bank financing, the new round of equity funding will support Virtuos in its next phase of accelerated growth and finance its buy-and-build strategy across different geographies. Together with the expansion of existing studios, a policy of acquiring and developing complementary businesses will see the business double in size within the next three years, expanding its current capabilities and scaling its ability to deliver high value-added services.

“We are delighted to join a successful team of talents, laser-focused on delivering value to the most demanding names in the $100+ billion gaming industry” said Guy d’Auriol, co-founder of Leitmotiv Private Equity and Chairman of 3D Capital Partners. “We look forward to contributing our entrepreneurial and financial expertise to their ambitious development plan”.

In anticipation of the company’s next development phase, Virtuos recently set up its corporate headquarters in the city state of Singapore in order to benefit from the renowned pool of scientific and managerial talent. Near the new headquarters, Virtuos is establishing a new R&D Center in partnership with Singapore’s Economic Development Board (EDB) to explore the latest computer graphics, rendering and production techniques. Virtuos plans to create 100 highly qualified jobs over the next 5 years in Singapore.

About Virtuos
Founded in 2004, Virtuos is a leading video game content production company with operations in China, Vietnam, Canada, France, Japan, Ireland and the United States. With 1,500 full-time professionals, Virtuos specializes in game development and AAA 3D art production for consoles and mobile titles, enabling its clients to generate additional revenue and achieve greater operational efficiency.

For close to 15 years, Virtuos has successfully delivered high quality content for over 1,100 projects and its clients include 18 of the top 20 digital entertainment companies worldwide. Recent projects have seen the development of many high profile titles such as the enhanced version of Rockstar’s L.A. Noire on Switch, Playstation 4, Xbox One and VR, as well as the remastering of Square Enix’s 2006 hit Final Fantasy XII: the Zodiac Age for PS4, also available on Steam.

For more information, please visit www.virtuosgames.com.

About 3D Capital Partners
3D Capital Partner is a JV partnership between Enthéos and Leitmotiv Private Equity.
Enthéos is a Paris-based private equity holding investing in small to midcap companies with high potential, and led by French entrepreneurs and managers. Additional information is available on www.entheos-investissement.fr

Leitmotiv Private Equity is an investment firm headquartered in Hong-Kong, supporting high-growth businesses in Asia and Europe. Additional information is available on www.leitmotiv.hk

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014372018-03-15T14:32:13Z2018-03-15T14:32:13Z Cambridge Innovation Center, a builder and operator of innovation campuses, has secured $58 million in funding. The investor was HB Reavis.]]>Massachusetts-based Cambridge Innovation Center, a builder and operator of innovation campuses, has secured $58 million in funding. The investor was HB Reavis.

]]>0Iris Dorbianhttp://www.amazon.com/Great-Producers-Visionaries-American-Theater/dp/1581156464/ref=sr_1_1?ie=UTF8&https://www.pehub.com/?p=35014302018-03-15T14:25:10Z2018-03-15T14:25:10ZMach Resources, an Oklahoma City-based oil and natural gas producer, and Bayou City Energy Management LLC, a private equity firm focused on the upstream oil and gas sector, have formed BCE-Mach LLC. The partnership will focus on acquiring, exploring and developing oil and gas assets in Oklahoma and Kansas.
]]>Mach Resources, an Oklahoma City-based oil and natural gas producer, and Bayou City Energy Management LLC, a private equity firm focused on the upstream oil and gas sector, have formed BCE-Mach LLC. The partnership will focus on acquiring, exploring and developing oil and gas assets in Oklahoma and Kansas.

PRESS RELEASE

OKLAHOMA CITY–(BUSINESS WIRE)–Mach Resources LLC (“Mach”) and Bayou City Energy Management LLC (“BCE”) are pleased to announce the formation of BCE-Mach LLC, a new partnership acquiring, exploring and developing oil and gas assets across Oklahoma and Kansas. The new partnership will focus on acquisition opportunities of producing properties with strong cash flow generation and drilling inventories.

BCE, led by Will McMullen and Mark Stoner, is a private equity firm founded in 2015 focusing on the upstream oil and gas sector. Mach, led by Tom L. Ward, was founded in early 2017 with a preference towards low-risk, conventional asset development.

“We’re pleased to partner with Tom and his exceptional management team at Mach to pursue this exciting strategy,” McMullen said. “The Mid-Continent region supports excellent risk-adjusted upstream investment returns, and we’re confident the extensive network and leading insights brought by the Mach team combined with BCE’s experience operating in Oklahoma will result in a productive and profitable partnership. It is our intent for this platform to be aggressive in consolidating and redeveloping select undercapitalized regions of the upstream sector and we look forward to executing this strategy with the Mach team.”

“In our search for an equity partner, we were impressed with Bayou City’s investment approach and management team,” Ward said. “Their previous track record in Oklahoma and outlook on future opportunities aligns well with our strategy at Mach. We look forward to working with BCE in actively pursuing assets that meet our common objective.”

Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost projects. Founded in January 2017, the company pursues assets with good production history and development opportunity. Mach is located in Oklahoma City, OK.

BCE is a private equity firm founded in 2015 to focus on making investments in the North American upstream oil and gas sector. BCE targets privately negotiated investments through two complementary strategies: providing buyout and growth equity capital for operators with current production and exploitable upside and partnering with operators to provide dedicated drilling capital in off-balance sheet structures. The BCE team, combined with the firm’s Advisory Board and strategic relationship with Argus Energy Managers, provides operators access to expertise, capital and trusted partnership.

Based in Maple Grove, MN, CBS primarily serves the Minnesota and Dakotas markets, which were previously underserved by the Company. The partnership gives MIR an anchor for expansion in these markets while providing CBS significantly enhanced resources, products and services. The Company plans to continue utilizing this strategy for growth in desirable, underserved geographies.

“We are excited to bring the CBS team onboard,” said Mike Bruhn, CEO of MIR. “The founders instilled a similar, customer-centric culture built on trust, responsiveness and reliability. Their consistent and unwavering customer dedication will be enhanced by the resources of MIR. This acquisition will also allow MIR to rapidly expand into Minnesota and the Dakotas.”

Justin Bertram, Partner with Incline, added, “The lightweight belting supplier market is extremely fragmented and has a lot of companies with similar profiles to CBS. We plan to continue partnering with these companies to grow MIR.”

March 15, 2018, Austin, TX — RateGenius, Inc., the leading online auto refinance marketplace, announced the completion of a recapitalization and growth investment with Tritium Partners, a growth-focused private equity firm whose principals were the primary investors in online marketplaces HomeAway, RetailMeNot and CreditCards.com. The investment will allow the company to meet the rapidly growing demand for its solutions, which help consumers reduce the monthly expense of their auto loans.
“We are thrilled to be partnering with the Tritium team to help take rateGenius into this next phase of growth and capitalize on the significant opportunities we see in the auto refinance market,” said Chris Brown, RateGenius’ founder and CEO. “Tritium’s track record of helping position and grow marketplace platforms similar to rateGenius was extremely attractive to us. We expect them to be great financial and strategic partners as we continue to build upon our leadership position in the online auto refinance market.”
rateGenius, which was founded in 1999, helps match consumers with cost-saving auto refinance opportunities through its extensive lender network without charging consumers any fees. The company is currently partnered with over 160 lenders nationwide and saves the average consumer between $70 and $100 per month on their auto loan payments. In connection with the refinancing process, rateGenius also provides consumers with other products which reduce the financial risk of auto ownership, including Guaranteed Asset Protection (GAP) and Vehicle Service Contract (VSC) products.
“We feel incredibly fortunate to be partnering with Chris and the rateGenius team to help execute a growth strategy that we expect will create another iconic Austin business,” said David Lack, Co-Founder and Managing Partner of Tritium. “The rateGenius team has built a unique platform in a largely underpenetrated market that provides a valuable, cost-saving solution to consumers.”
“Since leading the initial investment in HomeAway in 2004, we have learned a lot about broadening the reach of up-and-coming consumer marketplaces,” added Phil Siegel, Co-Founder and Managing Partner of Tritium. “The rateGenius team has built a robust platform with a compelling consumer offering, and by applying some of our online marketplace experience we believe we can generate greater consumer awareness and demand and capitalize on the company’s significant growth potential.”
Financial terms of the transaction were not disclosed. Silvermark Partners advised RateGenius, Inc. on the transaction. Investors Bank provided debt financing for the transaction.
About rateGenius
Based in Austin, Texas, RateGenius, Inc. is a nationwide, online auto loan refinance origination and marketplace platform. With more than 160 lenders across the country, rateGenius matches consumers with the most competitive interest rates to refinance their cars, trucks, and SUVs without charging any fees to the consumer. rateGenius facilitated over $1 billion in auto loans in 2017 and looks forward to facilitating even more in 2018. For more information, please visit our website at www.rateGenius.com.

About Tritium Partners Founded in 2013, Tritium Partners (www.tritiumpartners.com) is a private equity firm focused on buyouts of growth companies in the lower middle market. For over a decade, the founders of Tritium have deployed over $750 million of equity capital while partnering with talented founders and executives to build market-leading companies. Tritium’s investment approach emphasizes acquiring majority positions in profitable companies and creating long-term value through internal growth initiatives and acquisitions, with a particular focus on three core sectors: Internet and information services, supply chain and logistics, and financial and business services.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35013952018-03-15T11:30:15Z2018-03-15T11:30:15ZAlex Friedman has joined Periscope Equity as vice president and will lead the firm’s business development effort. Friedman was previously at Ardenton Capital Corp.]]>Alex Friedman has joined Periscope Equity as vice president and will lead the firm’s business development effort. Friedman was previously at Ardenton Capital Corp.

PRESS RELEASE

Periscope Equity LLC (“Periscope”) Names Alex Friedman Head of Business Development
Periscope Equity, a Chicago-based private equity firm, which invests in lower-middle market technology–enabled business services companies, announced today that Alex Friedman has joined the firm as a Vice President to lead Periscope’s business development effort. In this new role, Mr. Friedman will lead deal origination efforts by cultivating and managing relationships with deal intermediaries, business owners and executives.

Mr. Friedman brings significant business development and capital markets experience to the firm. Prior to joining Periscope, Mr. Friedman was a vice president at Ardenton Capital Corporation, a lower middle market private equity firm, where he focused on both deal origination and fundraising. Previously, he was a vice president at Gibraltar Business Capital, where he focused on sponsor-backed, private credit origination. Earlier in his career, Mr. Friedman was an assistant vice president at PNC Capital Markets in its financial services, advisory and banking practice, where he was responsible for relationship management of PNC’s insurance clients.
Alex holds a BBA from the University of Wisconsin – Madison
About Periscope Equity
Periscope Equity is a Chicago, IL based private equity firm, focused on buyouts of technology—enabled business services companies. Periscope focuses exclusively on investments within niche sector leaders across five key verticals (Marketing Services, Software as a Service, Security Services, Healthcare Services, Business Process Outsourcing) with unique mission or operationally critical products, data, technology or service offerings, a history of sustainable profitability and cash generation and known vectors of growth. In addition to providing liquidity, financial capital and commercial access through its extensive network, Periscope seeks to align and work in harmony with proven, like-minded management teams and bring strategic, operational, product and acquisition expertise to help transform and scale such companies to drive superior investment returns on an accelerated schedule.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35013932018-03-15T11:07:26Z2018-03-15T11:07:26ZIHeartMedia Inc filed for Chapter 11 bankruptcy on Thursday as the largest U.S. radio station owner reached an in-principle agreement with creditors to restructure its overwhelming debt load, Reuters reported.
]]>(Reuters) – IHeartMedia Inc filed for Chapter 11 bankruptcy on Thursday as the largest U.S. radio station owner reached an in-principle agreement with creditors to restructure its overwhelming debt load.

The company, which filed for bankruptcy along with some of its units, said it reached the agreement with holders of more than $10 billion of its outstanding debt for a balance sheet restructuring, which would reduce its debt by more than $10 billion.

IHeartMedia, which has struggled with $20 billion of debt and falling revenue at its 858 radio stations, said cash on hand and cash generated from ongoing operations will be sufficient to fund the business during the bankruptcy process.
“The agreement … is a significant accomplishment, as it allows us to definitively address the more than $20 billion in debt that has burdened our capital structure,” Chief Executive Bob Pittman said.

The filing comes after John Malone’s Liberty Media Corp proposed on Feb. 26 a deal to buy a 40 percent stake in a restructured iHeartMedia for $1.16 billion, uniting the company with Liberty’s Sirius XM Holdings Inc satellite radio service.

Clear Channel Outdoor Holdings Inc, a subsidiary of iHeartMedia and one of the world’s largest billboard companies, and its units did not commence Chapter 11 proceedings.

IHeartMedia skipped a $106 million interest payment on Feb. 1, triggering a 30-day grace period during which the company has tried to hammer out a deal with it bondholders.

The company disclosed on Monday it was still exchanging proposals with its creditors, but had yet to reach an agreement.

Its most recent proposal would have given holders of secured loans, who are owed nearly $13 billion, about $5.6 billion in new debt and 94 percent of the equity in a reorganized iHeartMedia. These creditors also would have received iHeartMedia’s 89.5 percent stake in Clear Channel Outdoor Holdings.

Bain Capital LLC and Thomas H. Lee Partners LP control 68 percent of the voting stock of iHeartMedia, according to the company’s most recent annual report.

The private equity firms led a $17.9 billion leveraged buyout of what was then Clear Channel Communications Inc in 2008, just as the buyout boom was fading and as the signs of the financial crisis began to emerge.

Shares of iHeartMedia lost three-quarters of their value in the second half of 2015 and have never recovered since then. On Monday, the pink sheet stock closed at 48 cents.

IHeartMedia traces its roots to the 1972 purchase of KEEZ-FM in San Antonio, Texas, where it is currently headquartered. It also produces syndicated radio programs that feature “American Idol” host Ryan Seacrest and political personalities Rush Limbaugh and Sean Hannity.

The company had 14,300 employees at the end of 2016, according to its most recent annual report.

]]>0Reuters Newshttps://www.pehub.comhttps://www.pehub.com/?p=35013912018-03-15T11:04:37Z2018-03-15T11:04:37ZToys ‘R’ Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, Reuters reported. ]]>(Reuters) – Bankrupt Toys ‘R’ Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt, a person familiar with the matter said on Wednesday.

With shoppers flocking to online platforms like Amazon.com Inc (AMZN.O) and children choosing electronic gadgets over toys, Toys ‘R’ Us has struggled to service debt from a $6.6 billion leveraged buyout by private equity firms KKR & Co LP (KKR.N) and Bain Capital and real estate investor Vornado Realty Trust (VNO.N) in 2005.

Toys ‘R’ Us had been closing one-fifth of its U.S. stores as part of efforts to emerge from one of the largest ever bankruptcies by a specialty retailer.

But creditors decided they can get more from liquidating assets of the toy seller, the largest in the United States and one of the best known in the world, rather than finding a way to keep the business alive, the person said, speaking on condition of anonymity to discuss the private negotiations.

A Toys ‘R’ Us spokeswoman declined to comment.

The company is expected to make a filing with the bankruptcy court late on Wednesday, the person said.

The planned closure in coming months is a blow to generations of consumers and hundreds of toy makers that sold products at the chain, including Barbie maker Mattel Inc (MAT.O), board game company Hasbro Inc (HAS.O) and other large vendors such as Lego.

In Britain, the remaining 75 Toys ‘R’ Us shops will close within six weeks, joint administrators for the retailer said earlier on Wednesday, after they were unable to find a buyer for all or part of the business, resulting in the loss of about 3,000 jobs.

The Wall Street Journal earlier on Wednesday reported that Toys ‘R’ Us Chief Executive David Brandon told U.S. staff about the likely closures on a conference call.

Efforts to restructure collapsed this month after lenders decided, absent a clear reorganization plan, they could recover more by closing stores and raising money from merchandise sales, sources with knowledge of the matter said.

“It’s a relentlessly difficult retail environment for mall-based retailers. There just aren’t the same feet coming through the doors,” said Brian Davidoff, a financial restructuring lawyer.

More than 8,000 U.S. retail stores closed in 2017, roughly double the average annual store closures in the previous decade, according to data from the International Council of Shopping Centers.

Toys ‘R’ Us is also likely to liquidate in France, Spain, Poland and Australia, Brandon said, according to The Wall Street Journal. It quoted Brandon as adding that the retailer also planned to sell operations in Canada, Central Europe and Asia.

Toys ‘R’ Us was already working with liquidators Tiger Capital Group LLC, Great American Group LLC, Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC on previously announced store closures, and the four are expected to continue with the additional closings, sources said.

The future of the retailer’s big-box shops, many located in strip centers, was uncertain.

The disappearance of Toys ‘R’ Us in the United States and the UK leaves a void for hundreds of toy makers that relied on the chain as a top customer alongside WalMart Inc (WMT.N) and Target Corp (TGT.N).

Shares in Mattel, the world’s largest toymaker, and No. 2 U.S. toymaker Hasbro tumbled last week on liquidation reports. Both companies rely on Toys ‘R’ Us for roughly 10 percent of their revenues, according to their 2016 annual reports.

The liquidation will be more painful for small, independent toy makers that relied on the chain as a major showcase, said Lutz Muller, president of consultancy Klosters Trading Corp.

Record capital overhang, increased competition and perpetually high valuations are afflicting this market, and buyers are struggling to deploy capital on worthy investments.

But enterprising firms can use current economic conditions as an opportunity to modernize their deal-sourcing strategy and stand out among the competition.

Intelligent Automation — or more colloquially, using robots — is often touted as the future of the manufacturing sector, but similar concepts can be applied to M&A deal sourcing.

In fact, firms today can employ these robots to facilitate deal sourcing and relationship building by means of integrated data sources and automated alert systems, which provide innumerable cost and time-saving benefits.

As we progress into our intelligent future, the question becomes: How can these robots advance M&A deal sourcing for tomorrow?

To begin, let’s assess intermediary activity over the most recent three-year period by revisiting Sutton Place Strategies’ 2016 Forgotten Mid-Tier analysis. The mid-tier is defined as a sell-side adviser that closes between four and 20 deals to sponsor buyers a year, or an average of one to five per quarter.

Previously, SPS reasoned that the mid-tier is a great resource due to its accessibility. Moreover, these sell-side advisers are attractive serial sources of continuous deal flow, given that 61% typically ran limited or moderate closing processes in 2017, per the SPS Sell-Side Process Index.

In 2017, 94 mid-tier sell-side advisers closed 725 transactions. In fact, more than half these mid-tier banks were also mid-tier in 2015. Of those that weren’t, 13 were too small in 2015, yet moved into the mid-tier during 2016 and maintained that status throughout 2017.

If relevant to your industry and size strategy, these are excellent intermediaries to evaluate and add to your community. If you had sorted through this data in 2015 and applied automated practices, you would still be actively benefiting from their consistent deal flow. By the way, how are you handling this work today?

To streamline and amp your deal sourcing, the secret lies in the robot’s ability to repeatedly transform raw data into actionable intelligence. This includes instituting alerts to inform you of a sell-side adviser’s pertinent activity, such as:

An alert that a deal closed or notifications of a new hire at an intermediary

Report a broken process on a deal from your pipeline

Newly active sell-side intermediaries in your target market

Notification of a tier-one relationship that closed a deal that they didn’t show you

An intermediary adjusts its focus (geographic, sector, or transaction size)

From this telling list of alerts, robots can help build an assembly line for cultivating superior sourcing relationships. Efficiently sustaining relations with these firms is critical, as they have the potential to provide better deal selection, which often equates to better returns.

Examine the associated Intermediary Breakdown chart.

Suppose that of the 112 mid-tier banks that closed 820 deals in 2015, 40% closed transactions in your strike zone.

Keeping tabs on these ~45 mid-tier banks may not sound discouraging; however, there are certainly boutique intermediaries from 2015 that would fit your strategy, as well.

In fact, of the 429 boutique intermediaries in 2015, more than 11% moved to the mid-tier in 2016, and of those 11%, more than half remained in the mid-tier in 2017. Now we’re talking about a lot more datasets that without robots would have to be manually assembled, applied and reviewed.

The holy grail of high-tech robots is for alerts that proactively advocate next steps, based on your relationship with an intermediary.

Using data integrated from various sources, including a CRM, will enhance the robot’s recommendations, including whether to email or call based on your last encounter with the firm. The alert, perhaps equipped with a phone number or email address, will make it easier to immediately act on the information when it’s received, as opposed to adding it to your ever-growing to-do list.

As with other types of machine learning, the robots will advance as your utilization and integration of data sources increases. It’s fascinating to consider the potential of robots, especially as they learn more about your deal-sourcing process and eliminate your involvement in the more mundane and tedious activities.

Predicting when this market will turn in favor of investors is a fruitless endeavor. And even if this market were favoring buyers, automating raw data into practical intelligence is a sound business practice.

Before attempting to outbid your competition on your next IOI, seriously consider integrating robots into your strategy and refocusing your valuable attention on the parts of deal sourcing that can’t be automated and still require human cognitive ability.

Catherine Daly and Nadim Malik aremanager and CEOat Sutton Place Strategies, a deal-sourcing-intelligence provider. They can be reached at CDaly@suttonplacestrategies.com and NMalik@suttonplacestrategies.com or at +1 212-376-6126. Photos courtesy of the firm.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35013882018-03-15T10:58:42Z2018-03-15T10:58:42ZNordic Capital is buying Trustly in a deal that values the payment company at 700 million euros ($865.2 million), the Financial Times said. Nordic is buying the majority stake from shareholders including Bridgepoint Development Capital, while Alfven & Didrikson is reinvesting in the deal, the story said. Trustly, of Stockholm, lets consumers pay directly from one account to another without relying on credit or debit cards.]]>Nordic Capital is buying Trustly in a deal that values the payment company at 700 million euros ($865.2 million), the Financial Times said. Nordic is buying the majority stake from shareholders including Bridgepoint Development Capital, while Alfven & Didrikson is reinvesting in the deal, the story said. Trustly, of Stockholm, lets consumers pay directly from one account to another without relying on credit or debit cards.

Evanston, Ill., March 15, 2018 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced that it has acquired Royston LLC (“Royston” or the “Company”), in partnership with the current management team. Terms of the transaction were not disclosed.

Royston is a designer, manufacturer and installer of custom, high‐quality check out and merchandising fixtures and equipment. The Company’s core customer base consists of convenience store, grocery and mass merchandise chains across North America. Royston’s products include checkout stands, customer service centers, prep and beverage counters, modular shelving systems, coffee / beverage islands, beverage tower systems, counters, kiosks, and fuel-island valets. Additionally, through its field operations business, Royston provides customers with project management, site inspection / surveys, and installation services for program rollouts and store remodels. The Company is headquartered in Jasper, Ga., with two additional manufacturing facilities in Royston and Atlanta, Ga.

IOP is partnering in its investment with Mark Kenline, Royston’s President and CEO, and the Company’s management team, all of whom have ownership interests and will remain in their current leadership roles. In addition, Jim Todd, an IOP Operating Principal, will assume the position of Chairman. Mr. Todd is a member of IOP’s Board of Operating Principals which is comprised of experienced executives who provide leadership to the businesses in which IOP invests.

Kyle Hood, Director of IOP, said, “We are excited to partner with the Royston team. We believe that Royston is a differentiated business with longstanding customer relationships and an excellent reputation.”

Mr. Todd added, “We look forward to partnering with Mark Kenline and the entire Royston management team in continuing to serve the Company’s customers with a focus on manufacturing excellence and high levels of quality, delivery and service.”

Mr. Kenline commented, “The Royston management team and I are looking forward to our partnership with IOP. We believe IOP’s operations‐focused approach will assist us in enhancing all aspects of our business to better serve our customers.”

The transaction’s debt financing was provided by a bank group led by Comerica Bank and including Stifel Bank and Associated Bank with subordinated debt financing provided by Norwest Mezzanine Partners. Winston & Strawn LLP provided legal representation to IOP in the transaction.

###

About Royston
Royston is a designer, manufacturer and installer of custom, high‐quality check out and merchandising fixtures and equipment. The Company is headquartered in Jasper, Ga., with two additional manufacturing facilities in Royston and Atlanta, Ga. For more information, visit Royston’s website at www.roystonllc.com.

About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.

]]>0Luisa Beltranhttp://twitter.com/luisarbeltranhttps://www.pehub.com/?p=35013822018-03-15T10:41:55Z2018-03-15T10:41:55ZFaction said March 15 that it raised $18 million in a Series B funding round led by River Cities Capital Funds. Other investors include Dell Technologies Capital while existing investors Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners also participated. Faction, of Denver, provides a multi-cloud platform.]]>Faction said March 15 that it raised $18 million in a Series B funding round led by River Cities Capital Funds. Other investors include Dell Technologies Capital while existing investors Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners also participated. Faction, of Denver, provides a multi-cloud platform.

PRESS RELEASE

DENVER, March 15, 2018 (GLOBE NEWSWIRE) — Faction, the Multi-Cloud Platform as a Service company, headquartered in Denver, CO, announced today that it closed an $18 million Series B financing to expand its multi-cloud products and services and accelerate growth via sales, marketing and international expansion. New investor River Cities Capital Funds led the round, which includes investment by Dell Technologies Capital and existing investors Sweetwater Capital, Meritage Funds and Charterhouse Strategic Partners.

Tweet: Faction secures $18M in growth funding from six investors, including new investors River Cities Capital Funds and Dell Technologies Capital.

This growth capital financing positions Faction to further enhance its industry leading position as a premier provider of multi-cloud storage by extending its cloud connected storage to the VMware Cloud on AWS platform. Additionally, Faction will be expanding its managed services internationally to support the global rollout of VMware Cloud on AWS.

With this funding, Faction will expand its global operations in 2018 and 2019, and plans to hire across all functional areas of the business with an emphasis on software development, engineering, and managed and professional services. Faction’s hiring plans for 2018 are building on the growth of Faction’s Denver based team last year, which included two key executives in President & COO and CFO roles.

Executive Quotes
“We are thrilled to partner with Faction and believe there is a tremendous opportunity to accelerate the company’s growth through product and international expansion. We’re impressed with the depth and breadth of the company’s solutions for enabling managed services partners and are particularly encouraged by their innovative offerings for cloud connected storage, including VMware Cloud on AWS,” said Rob Heimann, Managing Director at River Cities Capital Funds.

“Dell Technologies Capital is excited to be working with Faction to deliver customer configurable and adaptable multi-cloud solutions,” commented Daniel Docter, Managing Director at Dell Technologies Capital. “Our investment, domain expertise and industry relationships will help Faction continue to grow its IaaS and Enterprise Storage as a Service offerings as it expands to support VMware Cloud on AWS solutions.”

“This growth capital is validation that Faction is providing and developing groundbreaking technology in the cloud industry,” said Luke Norris, Founder and CEO at Faction. “We are ecstatic to partner with great investors who share our vision of a multi-cloud future and are uniquely positioned to help us realize that future today.”

About Faction
Denver-based Faction®, the Multi-Cloud Platform as a Service company, empowers clients by delivering maximum and unmatched control in hybrid and multi-cloud environments that perform like on-premise, scale like public, and connect with patented ease and speed. Faction’s Private VMware Cloud and VMware Cloud on AWS solutions and managed services are bolstered by the company’s status as a Platinum-level NetApp Service Provider, a Premier Partner in the VMware Cloud Provider Program, and an early access partner for VMware Cloud on AWS. Follow Faction on Twitter (@FactionInc) and LinkedIn. For more information, please visit www.factioninc.com